NXP reported earnings of $1.44 a share for the second quarter, above analysts' estimates of $1.37 a share for the quarter. Revenue grew 11.9% year over year to $1.51 billion for the quarter, in line with analysts' estimates.
The chipmaker expects to report earnings of $1.45 to $1.55 a share and revenue of $1.525 billion to $1.575 billion in the third quarter. Analysts expect the company to report earnings of $1.49 a share on revenue of $1.6 billion for the third quarter.
NXP added that it is making "good progress" on the integration process with Freescale Semiconductor (FSL) , and that it expects the merger of the two companies to close in the fourth quarter.
"We are excited about creating a true industry leader focused on delivering differentiated product solutions which we believe will create significant value for our customers and shareholders," NXP CEO Richard Clemmer said in a statement.
TheStreet Ratings team rates NXP SEMICONDUCTORS NV as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NXP SEMICONDUCTORS NV (NXPI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: NXPI Ratings Report