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NXP forecasts lower 4Q24 results due to falling auto chip demand and macro issues

NXP Semiconductors anticipates that its revenue and profit performance for the fourth quarter of 2024 will be below market expectations, with an estimated range of US$3 billion to US$3.2 billion, as a result of a slowdown in the automotive industry, uncertainty regarding demand in Europe and the US, and general macroeconomic weakness.