STMicroelectronics N.V. (NYSE: STM) reported Q2 EPS of $0.06, $0.03 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $2.77 billion versus the consensus estimate of $2.73 billion.

OUTLOOK

“Our third quarter business outlook, at the mid-point, is for net revenues of $3.17 billion, decreasing year-over-year by 2.5% and increasing sequentially by 14.6%; gross margin is expected to be about 33.5%; including about 340 basis points of unused capacity charges. On a sequential basis, our Q3 gross margin will be negatively impacted by about 140 basis points, mainly from currency effect and, to a lesser extent, the start of non-recurring cost related to our manufacturing reshaping program.”

For earnings history and earnings-related data on STMicroelectronics N.V. (STM) click here.