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Chipmaker STMicro sees over 15% drop in Q1 sales after Q4 miss

Tan KW
Publish date: Thu, 25 Jan 2024, 09:12 PM
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 European chipmaker STMicroelectronics on Thursday said its first-quarter revenue would fall over 15% year-on-year, after fourth-quarter sales missed estimates on softer automotive growth and further deterioration in the industrial sector.

The company, whose clients include Tesla and Apple, forecast first-quarter revenue of $3.6 billion.

Fourth-quarter net revenue was $4.28 billion, below analysts' average estimate of $4.30 billion in an LSEG poll.

 


  - Reuters

 

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