STMicroelectronics Q3 2024 GAAP EPS $0.37 Beats $0.33 Estimate, Sales $3.251B Beat $3.247B Estimate
Portfolio Pulse from Benzinga Newsdesk
STMicroelectronics (NYSE:STM) reported Q3 2024 earnings of $0.37 per share, beating the consensus estimate of $0.33. Sales were $3.251 billion, slightly above the $3.247 billion estimate. However, both earnings and sales decreased significantly compared to the same period last year.
October 31, 2024 | 6:06 am
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STMicroelectronics reported better-than-expected Q3 2024 earnings and sales, but both metrics showed a significant decline compared to the previous year.
While STM's earnings and sales beat analyst estimates, the significant year-over-year decline in both metrics may concern investors. The positive surprise might stabilize the stock price in the short term, but the overall decline could limit upward momentum.
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