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NXP Semiconductors (NXPI) Stock Sinks on Mixed Results, Light Guidance

NEW YORK (TheStreet) -- Shares of NXP Semiconductors (NXPI - Get Report) were falling 16.6% to $75.85 in morning trading Thursday after the Dutch chipmaker reported mixed results for the third quarter and issued a light guidance for the fourth quarter.

NXP reported earnings of $1.57 a share for the third quarter, above analysts' estimates of $1.55 a share for the quarter. Revenue was flat year over year at $1.52 billion for the quarter, compared to analysts' estimates of $1.55 billion.

The chipmaker said it expects fourth quarter revenue to be down in the low to upper-teens percentage range compared to...