STMicroelectronics cuts full-year outlook for second time
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FILE PHOTO:The logo of electronics and semiconductors manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris, France, July 12, 2022. REUTERS/Sarah Meyssonnier
(Reuters) - Franco-Italian chipmaker STMicroelectronics (STM) on Thursday cut its full-year revenues guidance for the second time this year as industrial customer orders did not improve and automotive demand declined.
The company, whose clients include Tesla and Apple, said it expects revenue in the range of $13.2 billion to $13.7 billion for 2024, against a previous forecast range of $14 billion to $15 billion.
(Reporting by Nathan Vifflin; Editing by Tom Hogue)
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