STMicroelectronics NV reports results for the quarter ended June 30 - Earnings Summary

• STMicroelectronics NV STMPA reported quarterly adjusted earnings of 11 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 38 cents. The mean expectation of seven analysts for the quarter was for earnings of 10 cents per share. Wall Street expected results to range from 7 cents to 14 cents per share.

• Revenue fell 14.4% to $2.77 billion from a year ago; analysts expected $2.74 billion.

• STMicroelectronics NV's reported EPS for the quarter was a loss of 11 cents​.

• The company reported a quarterly loss of $94 million.

• STMicroelectronics NV shares had risen by 4.5% this quarter and gained 27.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.7% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is "buy."

• Wall Street's median 12-month price target for STMicroelectronics NV is $33.00, about 3.7% below its last closing price of $31.77

This summary was machine generated from LSEG data July 24 at 07:32 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)