FMP
STMicroelectronics Gains 2% Despite Q1 Miss & Guidance Cut
Apr 25, 2024 10:49 AM - Davit Kirakosyan
Image credit: FMP
STMicroelectronics (NYSE:STM) lowered its fiscal 2024 sales forecast following a drop in first-quarter revenue and net profit, yet its shares saw a more than 2% increase in premarket trading on Thursday.
The company reported earnings per share (EPS) of $0.54 for the quarter, falling short of the expected $0.63. Revenue for the first quarter decreased by 18% to $3.47 billion, which was below the $3.64 billion anticipated by analysts. Additionally, net profit halved from $1.04 billion to $513 million. Gross profit also declined, dropping to $1.44 billion from $2.11 billion, and the gross margin for the quarter came in at 41.7%.
In light of these results, the semiconductor manufacturer adjusted its full-year financial outlook. It now projects annual revenues to range between $14 billion and $15 billion, down from the previously estimated $15.9 billion to $16.9 billion. The company also expects gross margins to remain in the low 40s percentage range, adjusting from prior expectations of low to mid-40s.
Other Blogs
Sep 11, 2023 1:38 PM - Rajnish Katharotiya
P/E Ratios Using Normalized Earnings
Price to Earnings is one of the key metrics use to value companies using multiples. The P/E ratio and other multiples are relative valuation metrics and they cannot be looked at in isolation. One of the problems with the P/E metric is the fact that if we are in the peak of a business cycle, earni...
Sep 11, 2023 1:49 PM - Rajnish Katharotiya
What is Price To Earnings Ratio and How to Calculate it using Python
Price-to-Earnings ratio is a relative valuation tool. It is used by investors to find great companies at low prices. In this post, we will build a Python script to calculate Price Earnings Ratio for comparable companies. Photo by Skitterphoto on Pexels Price Earnings Ratio and Comparable Compa...
Oct 17, 2023 3:09 PM - Davit Kirakosyan
VMware Stock Drops 12% as China May Hold Up the Broadcom Acquisition
Shares of VMware (NYSE:VMW) witnessed a sharp drop of 12% intra-day today due to rising concerns about China's review of the company's significant sale deal to Broadcom. Consequently, Broadcom's shares also saw a dip of around 4%. Even though there aren’t any apparent problems with the proposed solu...
