STMicroelectronics N.V. : The profit warning is worse than expected, but will it be the last of this cycle?
>Q2 2024 results above expectations - This morning, STM reported its Q2 2024 results which were above expectations. Revenues were $ 3 232m, down 6,7% q-o-q and down 25.3% y-o-y, just slightly above the consensus at $ 3.2bn. Guidance was for revenues at $ 3.2bn, +/-350bp. Revenues have been driven by higher revenues in Personal Electronics, partially offset by lower-than-expected revenues in Automotive. The gross margin was 40.1% also slightly above the consensus at 4...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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