Tower Semiconductor Q1 revenue falls on weak demand [Reuters]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: Reuters
May 9 (Reuters) - Israel-based contract chipmaker Tower Semiconductor reported a 7% decline in first-quarter revenue on Thursday reflecting muted demand from the industrial and automotive sectors. Over the past few quarters, semiconductor firms are dealing with a supply glut as they focus on clearing excessive inventory mainly in the automotive industry, hurting companies like Tower which makes analogue, mixed-signal chips and sensor technologies. French-Italian firm STMicroelectronics is one of the latest chipmakers to lower its full-year guidance due to declining orders. Tower Semiconductor reported revenue of $327 million for the three months ended March 31, down 7% year on year. It forecast second-quarter revenue at $350 million, with an upward or downward range of 5%. It posted adjusted profit of 46 cents per share for the first quarter to top the 39 cents per share expected by four analysts polled by LSEG. The Technology Roundup newsletter brings the latest news and
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STM
Earnings
- 4/25/24 - Miss
STM
Sec Filings
- 5/16/24 - Form SD
- 5/13/24 - Form 6-K
- 5/6/24 - Form 6-K
- STM's page on the SEC website