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NXP Semiconductors profit misses consensus by 88.1% in fiscal Q3

NXP Semiconductors NV said its normalized net income for the fiscal third quarter ended Oct. 1 came to 20 cents per share, compared with the S&P Capital IQ consensus estimate of $1.69 per share.

EPS increased 141.1% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $69.4 million, an increase of 142.4% from $28.6 million in the prior-year period.

The normalized profit margin increased to 2.9% from 1.2% in the year-earlier period.

Total revenue declined year over year to $2.39 billion from $2.47 billion, and total operating expenses fell on an annual basis to $2.18 billion from $2.29 billion.

Reported net income increased 19.8% year over year to $107.3 million, or 31 cents per share, from $89.5 million, or 26 cents per share.