STMicroelectronics N.V. (STM) Tops Q2 EPS by 1c

STMicroelectronics N.V. (NYSE: STM) reported Q2 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $2.27 billion versus the consensus estimate of $2.26 billion.

Business Outlook

The Company expects third quarter 2018 revenues to increase about 10.0% Q/Q (16.8% Y/Y) at the mid-point of the Company's guidance, driven by continued healthy demand in the Automotive and Industrial end markets and, as anticipated, by growth in smartphone applications.

The Company's guidance for the 2018 third quarter is:

• Net revenue is expected to increase about 10.0% sequentially, plus or minus 350 basis points;
• Gross margin of about 40.0%, plus or minus 200 basis points;
• This outlook is based on an assumed effective currency exchange rate of approximately $1.19 = €1.00 for the 2018 third quarter and includes the impact of existing hedging contracts.
• The third quarter will close on September 29, 2018.

For earnings history and earnings-related data on STMicroelectronics N.V. (STM) click here.

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