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NXP Semiconductors Revenue Trails Estimates on Stagnating Orders

NXP Semiconductors NV reported third-quarter revenue that fell short of analysts’ estimates as customers pulled back on orders in a slowing global economy and higher inventories of unsold chips.

Revenue was little changed at $1.52 billion, the Eindhoven, Netherlands-based company said in a statement Thursday. That missed the average analyst estimate of $1.55 billion, according to data compiled by Bloomberg. For the fourth quarter, NXP forecast a decline in sales at a percentage in the “low to upper-teens,”...