NXP Semiconductors Shares Are Trading Higher Tuesday: What's Driving The Action?
Portfolio Pulse from Adam Eckert
NXP Semiconductors N.V. (NASDAQ:NXPI) shares are trading higher after the company reported better-than-expected Q2 financial results. The company's Q2 revenue of $3.3 billion and Q3 EPS of $3.43 both beat estimates. NXP also repurchased $302 million worth of its common stock during the quarter. The company expects Q3 revenue to be between $3.3 billion and $3.5 billion, and earnings to be between $3.39 and $3.82 per share.
July 25, 2023 | 2:48 pm
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NXP Semiconductors reported better-than-expected Q2 results and repurchased $302 million of its stock, leading to a rise in its share price. The company's Q3 revenue and earnings estimates also exceed expectations.
NXP Semiconductors reported better-than-expected Q2 results, which is a positive signal to investors and can lead to a rise in the company's share price. The company also repurchased $302 million of its stock, which can also boost the share price as it reduces the number of shares outstanding and increases earnings per share. Furthermore, the company's Q3 revenue and earnings estimates exceed expectations, which can further boost investor confidence in the company.
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