BUZZ-NXP Semiconductors up on upbeat Q2 forecast

Reuters04-30

** Shares of chipmaker NXP Semiconductors up 5.6% at $260.9 after hours

** NXPI forecasts second-quarter profit above estimates; expects adj earnings of about $3.20/share vs analysts' estimate of $3.11/share- LSEG data

** Easing inventory corrections at NXPI's industrial and mobile customers helped offset decelerating revenue from automotive customers due to slowing EV demand

** Sees Q2 adj gross margin of about 58.5% vs estimate of 58.1%

** Co's industrial and IoT revenue grew 14% and mobile revenue was up 34%, while revenue from the automotive segment fell 1% in Q1

** Up to last close, stock has risen 7.61% YTD

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))

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