Europe’s largest chip maker STMicroelectronics today announced third quarter results are expected third -quarter revenue between 20.7-22.7 billion, exceeding analysts’ estimates of $ 2.01 billion , gross margin was 31 %, more than 26.3% of the level in the first quarter , but below analysts’ forecast of 35% , lower than the expected loss , but an analyst said the concerns of its costs and profit margins , and its shares fell nearly 4 percent still crashed .
STMicroelectronics second -quarter revenue of $ 1.99 billion , the Wall Street estimate of $ 1.89 billion , net loss of $ 318 million , loss per share of $ 0.36 , a year earlier case was $ 47 million and a net loss per share of $ 0.05 .
JP Morgan analyst SandeepDeshpande said, " Although the second quarter results exceeded estimates, but still recorded a substantial loss ," " poor gross margins , high operating expenses , reduced operating expenses somewhat alarming rate of progress ", SandeepDeshpande supplement said analysts focus on cost reductions in the second half brings corporate restructuring situations .
ReutersEstimates nine analysts surveyed forecast mean a net 3.0073 billion U.S. dollars, a loss per share of $ 0.38 .
STMicroelectronics refused to comment on when it will return to profitability , but some analysts said that if the economic situation is improving , may be profitable in the fourth quarter.
STMicroelectronics shares fell 1.44% to close at $ 7.54 , down 3.7% to $ 7.26 in after-hours trading. |
