STMicroelectronics N.V. : Better-than-expected Q3, FY guidance cut as expected, Q1 2025 below seasonality, cost cutting programme launched
>Q3 2024 results above consensus, mainly driven by lower opex - This morning, STMicroelectronics reported its Q3 2024 results which were above expectations, due to much lower net opex than expected. Revenues were € 3.25bn, above the consensus at € 3.24bn, down 26% y-o-y, but up 0.6% q-o-q. This is in line with the guidance for revenues at $ 3.25bn, +/-350bp. During the quarter, Personal electronics was higher than expected, Industrial declined less and Automotive w...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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