STMicroelectronics Reports 2024 First Quarter Financial Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
- Oil settles down more 3% after US-Iran talks signal easing supply risks
- Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
- Alan Greenspan, influential former Federal Reserve chair, dies at 100
- Buy gold stocks as valuations are cheap amid macro tension: BofA
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- Qtrex Quantum executives plan to buy up to 2M shares over 12 months
STMicroelectronics cuts outlook as slower demand causes Q1 miss
April 25, 2024 5:03 AM EDTSTMicroelectronics (NYSE: STM) reduced its sales outlook for fiscal 2024 after posting a decline in Q1 revenue and net profit.
Despite this, the companys shares rose 1.7% in premarket trading Thursday.
Earnings per share (EPS) for the quarter were reported at $0.54, missing the consensus estimate $0.63.
STMicro reported a Q1 revenue drop of 18% to $3.47 billion, below the $3.64 billion anticipated by analysts. Net profit also fell, halving from $1.04 billion to $513 million.... More
