STMicro Revenue Forecast Misses As Auto Sales Slump [BNN Bloomberg (Canada)]
Texas Instruments Incorporated (TXN)
Last texas instruments incorporated earnings: 4/21 04:01 pm
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Source: BNN Bloomberg
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
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TXN
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- 4/23/24 - Beat
TXN
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- 5/3/24 - Form 4
- 5/1/24 - Form 4
- TXN's page on the SEC website