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STMicro cuts FY revenue outlook as slowing car market bites

(Reuters) -European chipmaker STMicroelectronics on Thursday lowered its full-year sales guidance, the latest semiconductor company to struggle with weakening demand from carmakers and a further decline in orders from laptop and phone companies. Analysts polled by LSEG were expecting revenue of $16.1 billion for the year. "During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction accelerated," said CEO Jean-Marc Chery in a statement. ....

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STMicroelectronics Cuts Sales Guidance Amid Automotive Market Slowdown

By Mauro Orru

STMicroelectronics lowered its sales forecasts for the year after posting revenue below analysts expectations for the first quarter amid a slowdown in demand for chips in the. ....

Mauro Orru , Dow Jones ,

European Midday Briefing : Mood Cautious Ahead of More U.S Tech, Key Data

MARKET WRAPS

Stocks:

Reduced risk appetite weighed on European stocks on Thursday with investor focus on U.S. tech earnings and some key U.S. data, including the latest GDP print.

A.
-April 25, 2024 at 05:20 am EDT
- MarketScreener ....

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STMicro: net income halved in Q1 - MarketScreener

STMicroelectronics reports a 50.9% drop in net income for the first quarter of 2024, to $513 million, or $0.54 per share, with an operating margin of 15.9% versus 28.3% a year earlier.Also in annual. ....

Earnings in full flow – Focus turns US GDP and Core PCE data

Earnings in full flow – Focus turns US GDP and Core PCE data
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