STMicroelectronics N V
- STMicroelectronics NV fell 8.9% to $42.14 after the Switzerland-based advanced electronics company announced quarterly results ahead of market expectations.
The company said revenue in the first quarter increased 19.8% to $4.2 billion and net income soared 39.8% to $1.04 billion from $747 million and diluted earnings per share increased to $1.10 from 79 cents a year ago.
The company forecasted second quarter revenue of $4.28 billion with a band of $350 million, a sequential increase of 0.8%, and gross margin of 49.0% with a band of 200 basis points.
Apr 27, 2023
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