STMicro Shares Drop 17% as Third-Quarter Revenue Forecast Misses Estimates

businesscompany-earningsstocks 5 posts · 4 accounts

STMicro’s third-quarter revenue forecast of $3.7 billion missed estimates of $3.79 billion, sending the company's shares down 17%.

The chipmaker reported a second-quarter earnings beat, posting adjusted earnings of $0.31 a share against a $0.27 estimate and revenue of $3.487 billion surpassing consensus. The CEO noted that revenue growth is expected to accelerate in the fourth quarter, citing demand from artificial intelligence datacenter customers and satellite communications, supporting the semiconductor business despite the near-term guidance shortfall.

From the sources (5 posts)

@zerohedge

*STMICRO SEES 3Q NET REV. $3.70B, EST. $3.79B

@trendspider

STMicro $STM Q2 Earnings: Crushed 🔥 Adj. EPS: $0.31 vs $0.27 est REV: $3.487B vs $3.379B est Gross Margin 34.8% Operating Income $187M Net Income $222M CEO: "We anticipate a revenue growth acceleration in Q4, mainly driven by our engaged

@firstsquawk

STMicro Now Down 17% On Outlook Miss

@zerohedge

STMICRO SHARES SINK 17% AS OUTLOOK MISSES ESTIMATE

@business

STMicroelectronics forecast growing revenue in the current quarter as demand from AI data centers bolsters the chipmaker’s business

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