The 10-second takeaway
For the quarter ended March 30 (Q1), STMicroelectronics met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. GAAP loss per share shrank.
Margins grew across the board.
STMicroelectronics booked revenue of $2.01 billion. The 11 analysts polled by S&P Capital IQ looked for sales of $2.02 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.19. The four earnings estimates compiled by S&P Capital IQ predicted -$0.13 per share. GAAP EPS were -$0.19 for Q1 compared to -$0.20 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 31.3%, 180 basis points better than the prior-year quarter. Operating margin was -9.0%, 760 basis points better than the prior-year quarter. Net margin was -8.5%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.14 billion. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $8.56 billion. The average EPS estimate is -$0.01.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on STMicroelectronics is outperform, with an average price target of $8.96.
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