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NXP Beats on Revenue, Meets on Earnings as Acquisition Pays Off

Nasdaq-listed Dutch chipmaker NXP Semiconductors (NXPI) late Wednesday met analyst expectations for its second-quarter earnings but cautioned that strong competition and soft demand for chips would likely continue through the year.

Eindhoven, Netherlands-based NXP said second quarter adjusted earnings per share slipped 3.5% over the second quarter of 2015 to $1.39 as sales rose 57% to $2.365 billion. Adjusted to exclude the effects of M&A activity, sales were 8% lower than in the...