STMicroelectronics N.V. (NYSE: STM) reported Q1 EPS of ($0.03), $0.05 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $1.71 billion versus the consensus estimate of $1.74 billion.

Second Quarter 2015 Business Outlook

Mr. Bozotti commented, "In the second quarter, we expect to increase our revenues by about 3.5% sequentially, with most of our product groups contributing. Gross margin is anticipated to increase by about 60 basis points to 33.8%, including existing hedging contracts significantly mitigating the positive impact from currency."

Second quarter 2015 revenues are expected to increase about 3.5% on a sequential basis, plus or minus 3.5 percentage points. Gross margin in the second quarter is expected to be about 33.8%, plus or minus 2.0 percentage points.

This outlook is based on an assumed effective currency exchange rate of approximately $1.16 = €1.00 for the 2015 second quarter and includes the impact of existing hedging contracts. The second quarter will close on June 27, 2015

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