{"id":837352,"date":"2024-07-25T17:34:22","date_gmt":"2024-07-25T12:04:22","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=837352"},"modified":"2024-07-25T21:26:03","modified_gmt":"2024-07-25T15:56:03","slug":"stmicroelectronics-cuts-full-year-outlook-for-second-time","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/25\/stmicroelectronics-cuts-full-year-outlook-for-second-time\/","title":{"rendered":"STMicroelectronics cuts full-year outlook for second time"},"content":{"rendered":"<p>Franco-Italian chipmaker STMicroelectronics (STM) cut its full-year revenue guidance for the second time this year on Thursday as industrial customer orders did not improve and automotive demand declined. <\/p>\n<p>The company, whose clients include Tesla and Apple , said it expects revenue in the range of $13.2 billion to $13.7 billion for 2024, against a previous forecast range of $14 billion to $15 billion. <\/p>\n<p>It forecast margins at about 40%, instead of its previously &#8220;low 40&#8217;s&#8221;. <\/p>\n<p>&#8220;During the quarter, contrary to our prior expectations, customer orders for Industrial did not improve and Automotive demand declined&#8221;, said Jean-Marc Chery, President &#038; CEO, in a statement. <\/p>\n<p>STM had cut its outlook in April, citing weakening demand from carmakers and industrial clients. <\/p>\n<p>Analysts at J.P. Morgan said earlier this week that a guidance cut was &#8220;widely expected&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Franco-Italian chipmaker STMicroelectronics (STM) cut its full-year revenue guidance for the second time this year on Thursday as industrial customer orders did not improve and automotive demand declined. The company, whose clients include Tesla and Apple , said it expects revenue in the range of $13.2 billion to $13.7 billion for 2024, against a previous forecast range of $14 billion to $15 billion. It forecast margins at about 40%, instead of its previously &#8220;low 40&#8217;s&#8221;. &#8220;During the quarter, contrary to our prior expectations, customer orders for Industrial did not improve and Automotive demand declined&#8221;, said Jean-Marc Chery, President &#038; CEO, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-837352","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/837352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=837352"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/837352\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=837352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=837352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=837352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}