The 10-second takeaway
For the quarter ended Dec. 31 (Q4), STMicroelectronics met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP loss per share grew.
Margins dropped across the board.
STMicroelectronics reported revenue of $2.16 billion. The 10 analysts polled by S&P Capital IQ wanted to see a top line of $2.15 billion on the same basis. GAAP reported sales were 1.4% lower than the prior-year quarter's $2.19 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.48. The two earnings estimates compiled by S&P Capital IQ averaged -$0.12 per share. GAAP EPS were -$0.48 for Q4 compared to -$0.01 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.2%, 120 basis points worse than the prior-year quarter. Operating margin was -6.6%, 130 basis points worse than the prior-year quarter. Net margin was -19.8%, 1,930 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.02 billion. On the bottom line, the average EPS estimate is -$0.10.
Next year's average estimate for revenue is $8.93 billion. The average EPS estimate is $0.28.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on STMicroelectronics is outperform, with an average price target of $6.88.
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