STMicro Revenue Outlook Misses as Industrial Chip Slump Lingers

(Bloomberg) — STMicroelectronics NV forecast first quarter revenue that missed analysts’ expectations, as demand from the chipmaker’s customers in the industrial and auto sectors remains weak.

Revenue in the current period is seen at $2.51 billion, the Franco-Italian company said in a statement on Thursday. That compares with an average estimate of $2.73 billion by analysts surveyed by Bloomberg.