STMicroelectronics: ST reported good Q2 earnings and Q3 guidance
STMicroelectronics: (BUY, Fair Value EUR24.1 (+17%))ST reported good Q2 earnings and Q3 guidance
Today, STMicroelectronics reported Q2 revenue of USD2269m (+1.9% seq., +18% yoy) slightly above consensus, with an adj. operating result of USD289.0m (adj. op. margin of 12.7%), yielding EPS of USD0.29, i.e. 3.6% above Street's expectations (at USD0.28). Guidance for Q3 sales imply a good traction especially from smartphones, but also automotive and industrial applications. The company is well on track to achieve its full year guidance between 14% and 17%.
STMicroelectronics is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (“ICs”) and discrete devices. Co. offers a diversified product portfolio and develops products for a wide range of market applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Within its diversified portfolio, Co. is focused on developing products that leverage its technological strengths in creating customized, system-level solutions with digital and mixed-signal content.
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