STMicroelectronics Q2 EPS $1.06 Misses $1.08 Estimate, Sales $4.33B Beat $4.27B Estimate
Portfolio Pulse from Benzinga Newsdesk
STMicroelectronics reported Q2 earnings of $1.06 per share, missing the analyst consensus estimate of $1.08 by 1.85%. However, the company's quarterly sales of $4.33 billion beat the estimate of $4.27 billion by 1.41%. Compared to the same period last year, earnings increased by 15.22% and sales increased by 12.85%.
July 27, 2023 | 6:17 am
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NEUTRAL IMPACT
STMicroelectronics' Q2 earnings missed estimates but sales beat expectations. Earnings and sales showed a YoY increase.
STMicroelectronics' earnings miss could negatively impact the stock price, but this may be offset by the sales beat and YoY growth in both earnings and sales. The net effect on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100