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STMicroelectronics Second Quarter 2024 Earnings: EPS Beats Expectations
STMicroelectronics (EPA:STMPA) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$3.23b (down 25% from 2Q 2023).
- Net income: US$353.0m (down 65% from 2Q 2023).
- Profit margin: 11% (down from 23% in 2Q 2023). The decrease in margin was driven by lower revenue.
- EPS: US$0.39 (down from US$1.11 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
STMicroelectronics EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.7%.
Looking ahead, revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Semiconductor industry in France.
Performance of the French Semiconductor industry.
The company's shares are down 16% from a week ago.
Valuation
It's possible that STMicroelectronics could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About ENXTPA:STMPA
STMicroelectronics
Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.
Very undervalued with flawless balance sheet.
