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STMicroelectronics First Quarter 2024 Earnings: Misses Expectations
STMicroelectronics (EPA:STMPA) First Quarter 2024 Results
Key Financial Results
- Revenue: US$3.47b (down 18% from 1Q 2023).
- Net income: US$513.0m (down 51% from 1Q 2023).
- Profit margin: 15% (down from 25% in 1Q 2023). The decrease in margin was driven by lower revenue.
- EPS: US$0.57 (down from US$1.16 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
STMicroelectronics Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 3.7%.
Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Semiconductor industry in France.
Performance of the French Semiconductor industry.
The company's shares are up 5.5% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of STMicroelectronics' balance sheet and an in-depth analysis of the company's financial position.
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About ENXTPA:STMPA
STMicroelectronics
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.
Flawless balance sheet and good value.