STMicro: Q1 NP halved

(CercleFinance.com) - STMicroelectronics reports a 50.
9% drop in net profit for Q1 2024, to $513m, or $0.54 per share, with an operating margin of 15.9%, vs. 28.3% a year ago.

The Franco-Italian semiconductor manufacturer's Net sales fell by 18.4% to $3.46bn, with lower sales in automotive and industrial, but higher in personal electronics.

For FY 2024, STMicro now expects a revised sales plan of between $14bn and $15bn, and within this plan, expects a gross margin in the low 40's.


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