STMicroelectronics NV (NYSE:STM) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
STMicroelectronics NV Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $-0.14 in the quarter as EPS of $-0.14 in the year-earlier quarter.
Revenue: Decreased 0.4% to $2.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: STMicroelectronics NV reported adjusted EPS loss of $0.14 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It missed the average revenue estimate of $2.01 billion.
Quoting Management: “First quarter sales and gross margin results were in line with the mid-point of our guidance,” said ST President and CEO Carlo Bozotti. “Importantly, excluding ST-Ericsson, our businesses delivered revenues better than normal seasonality despite the ongoing soft macro-economic environment, due to the strong performance of Microcontrollers, Power and Smart Power for industrial and automotive. We also achieved key design wins with leading customers for 28nm FD-SOI technology products and home-gateway applications.”
Key Stats (on next page)…