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STMicroelectronics Expects Q3 Net Revenues To Be $3.25B (Vs. Consensus Of $3.577B); Sees Gross Margin Of 38%, Plus Or Minus 200 Bps

Author: Benzinga Newsdesk | July 25, 2024 01:05am

Business Outlook

ST's guidance, at the mid-point, for the 2024 third quarter is:

  • Net revenues are expected to be $3.25 billion, an increase of 0.6% sequentially, plus or minus 350 basis points.
  • Gross margin of 38%, plus or minus 200 basis points.
  • This outlook is based on an assumed effective currency exchange rate of approximately $1.07 = €1.00 for the 2024 third quarter and includes the impact of existing hedging contracts.
  • The third quarter will close on September 28, 2024.

Posted In: STM


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