STMicroelectronics Q2 2024 GAAP EPS $0.38 Misses $0.44 Estimate, Sales $3.232B Beat $3.202B Estimate
Portfolio Pulse from Benzinga Newsdesk
STMicroelectronics (NYSE: STM) reported Q2 2024 earnings per share (EPS) of $0.38, missing the analyst consensus estimate of $0.44 by 13.64%. However, the company reported sales of $3.232 billion, beating the estimate of $3.202 billion by 0.94%. Both EPS and sales figures represent significant declines from the same period last year.
July 25, 2024 | 5:02 am
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NEGATIVE IMPACT
STMicroelectronics reported Q2 2024 EPS of $0.38, missing the $0.44 estimate, and sales of $3.232 billion, beating the $3.202 billion estimate. Both metrics show significant year-over-year declines.
The miss on EPS is likely to negatively impact the stock price in the short term, despite the slight beat on sales. The significant year-over-year declines in both EPS and sales further contribute to a negative outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100