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STMicroelectronics Expects Q2 Net Revenues To Be $3.2B (Vs. Consensus Of $3.8B); Sees Gross Margin Of 40%, Plus Or Minus 200 Bps

Author: Benzinga Newsdesk | April 25, 2024 01:22am

Business Outlook

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

Net revenues are expected to be $3.2 billion, a decrease of 7.6% sequentially, plus or minus 350 basis points.
Gross margin of 40%, plus or minus 200 basis points.
This outlook is based on an assumed effective currency exchange rate of approximately $1.08 = €1.00 for the 2024 second quarter and includes the impact of existing hedging contracts.
The second quarter will close on June 29, 2024.

Posted In: STM

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