STMicro: net income halved in Q1
Also in annual variation, net sales for the Franco-Italian semiconductor manufacturer fell by 18.4% to $3.46 billion, with lower sales in automotive and industrial, but higher in personal electronics.
For fiscal 2024, STMicro now expects a revised sales plan of between $14 and $15 billion, and within this plan, expects a gross margin in the low 40's.
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