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STMicro Revenue Forecast Misses As Auto Sales Slump [BNN Bloomberg (Canada)]

Texas Instruments Incorporated (TXN)  More Company Research Source: BNN Bloomberg
Last texas instruments incorporated earnings: 4/21 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ti.com/corp/docs/investor_relations/index.html
First-quarter revenue fell 18.4% year over year to $3.47 billion, the Franco-Italian semiconductor company said in a statement Thursday. That's below STMicro's own earlier forecast of a 15% decline and an estimate of $3.63 billion among analysts surveyed by Bloomberg. STMicro expects the situation to worsen, reporting that sales for the current quarter were on track to fall 26% year over year to $3.2 billion, the company said. That compares with a $3.79 billion estimate from analysts. The shortfall is mostly coming from disappointing sales to carmakers, despite demand for industrial chips picking up. “During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction accelerated,” Chief Executive Officer and President Jean-Marc Chery said in a press release. The results come after Texas Instruments Inc., seen as a bellwether for the economy with its wide customer base, forecast s [Read more]
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Stockreport

STMicro Revenue Forecast Misses As Auto Sales Slump [BNN Bloomberg (Canada)]

Texas Instruments Incorporated  (TXN) 
More Company Research Source: BNN Bloomberg
Last texas instruments incorporated earnings: 4/21 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ti.com/corp/docs/investor_relations/index.html
First-quarter revenue fell 18.4% year over year to $3.47 billion, the Franco-Italian semiconductor company said in a statement Thursday. That's below STMicro's own earlier forecast of a 15% decline and an estimate of $3.63 billion among analysts surveyed by Bloomberg. STMicro expects the situation to worsen, reporting that sales for the current quarter were on track to fall 26% year over year to $3.2 billion, the company said. That compares with a $3.79 billion estimate from analysts. The shortfall is mostly coming from disappointing sales to carmakers, despite demand for industrial chips picking up. “During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction accelerated,” Chief Executive Officer and President Jean-Marc Chery said in a press release. The results come after Texas Instruments Inc., seen as a bellwether for the economy with its wide customer base, forecast s [Read more]
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EVENT TIME:
TXN
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Price Change %
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%
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EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
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Low:
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Low:
%
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%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
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%
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%
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TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
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