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STMicroelectronics Expects Q1 Net Revenues To Be $3.6B (Vs. Consensus Of $4.06B), Plus Or Minus 350 Bps; Sees Gross Margin Of 42.3%, Plus Or Minus 200 Bps

Author: Benzinga Newsdesk | January 25, 2024 02:11am

Business Outlook

ST's guidance, at the mid-point, for the 2024 first quarter is:

  • Net revenues are expected to be $3.6 billion, a decrease of 15.9% sequentially, plus or minus 350 basis points.
  • Gross margin of 42.3%, plus or minus 200 basis points.
  • This outlook is based on an assumed effective currency exchange rate of approximately $1.09 = €1.00 for the 2024 first quarter and includes the impact of existing hedging contracts.
  • The first quarter will close on March 30, 2024

Posted In: STM


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