STMicro: Q2 EPS slumps 64%
(CercleFinance.com) - For Q2 2024, STMicroelectronics reported EPS that is down 64.
2% y-o-y, to $0.38, with an operating margin down 14.9 points to 11.6% and a gross margin down 8.9 points to 40.1%.
Net sales fell by 25.3% to E3.23bn, but were above the mid-point of its target range, which it said is thanks to higher sales in personal electronics, partially offset by lower-than-expected sales in automotive.
For FY 2024, management will now run the company on the basis of a sales plan of between $13.2bn and $13.7bn; within this plan it expects a gross margin of around 40%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
2% y-o-y, to $0.38, with an operating margin down 14.9 points to 11.6% and a gross margin down 8.9 points to 40.1%.
Net sales fell by 25.3% to E3.23bn, but were above the mid-point of its target range, which it said is thanks to higher sales in personal electronics, partially offset by lower-than-expected sales in automotive.
For FY 2024, management will now run the company on the basis of a sales plan of between $13.2bn and $13.7bn; within this plan it expects a gross margin of around 40%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.