STMicroelectronics For Fiscal 2024 Expects Revenues Of $13.27B Vs. $13.366B Consensus; Slightly Lower Gross Margin YoY
Portfolio Pulse from Benzinga Newsdesk
STMicroelectronics has provided its fiscal 2024 revenue outlook, expecting $13.27 billion, slightly below the consensus of $13.366 billion. The company also anticipates a slightly lower gross margin year-over-year.
October 31, 2024 | 6:34 am
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STMicroelectronics expects fiscal 2024 revenues of $13.27 billion, slightly below the consensus of $13.366 billion, with a slightly lower gross margin year-over-year.
The revenue projection of $13.27 billion is below the consensus estimate of $13.366 billion, which may lead to a negative market reaction. Additionally, the expectation of a slightly lower gross margin year-over-year could further pressure the stock price.
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