RPT-UPDATE 1-STMicroelectronics sees Q2 revenue drop due to automotive slowdown and coronavirus [Reuters]
STMicroelectronics N.V. (STM)
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Source: Reuters
RPT-UPDATE 1-STMicroelectronics sees Q2 revenue drop due to automotive slowdown and coronavirus (Repeats to media subscribers) April 22 (Reuters) - Europe’s largest chipmaker STMicroelectronics sees a 10% drop in second-quarter revenue due to declining automotive demand and governmental measures to contain the coronavirus pandemic, it said on Wednesday. The chipmaker had said in January its expects a drop in first-quarter sales due to falling demand for smartphone components that should be followed by a rebound in the second quarter. “The COVID-19 outbreak and subsequent containment measures by governments around the world brought challenges in our manufacturing operations and, especially in the last few days of the quarter, logistics,” Chief Executive Jean-Marc Chery said. Second-quarter gross margins should come in at about 34.6% after 37.9% in the first quarter due to these challenges as well as declining demand in STMicroelectronics’ automotive segment, Chery said. If supply const
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STM
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- 10/23/25 - Beat
STM
Sec Filings
- 12/1/25 - Form 6-K
- 11/24/25 - Form 6-K
- 11/17/25 - Form 6-K
- STM's page on the SEC website