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Stock impact report

STMicroelectronics posts Q1 above estimates, forecasts stronger Q2 [Yahoo! Finance]

STMicroelectronics N.V. (STM) 
Last stmicroelectronics n.v. earnings: 4/22 01:00 am Check Earnings Report
US:NYSE Investor Relations: investors.st.com
Company Research Source: Yahoo! Finance
The Franco-Italian chipmaker reported revenue of $3.10 billion for the first three months ?of the ?year, versus the $3.04 billion expected by analysts polled by LSEG. ?Operating income was $171 million, above market expectations of $165.8 million. "In Q1, despite ?the macroeconomic ?uncertainty, we ?saw improving demand ?with strong booking and normalized inventory in distribution", STMicroelectronics' CEO Jean-Marc Chery said in a statement. STMicro is one of Europe's largest chipmakers and ?a bellwether for ?the automotive and industrial ?semiconductors ?sector, where customers have spent ?recent years digesting excess, ?post-pandemic ?inventory and cutting new orders. The company also forecast second-quarter revenue of $3.45 ?billion, above ?market expectations of $3.21 billion. (Reporting by ?Nathan Vifflin in Gdansk; Editing ?by Matt Scuffham) Show less Read more
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