STMicroelectronics Reports Significant Sales Drop and Guidance Revision

Thursday, 25 April 2024, 08:53

STMicroelectronics, a Swiss chipmaker, faced an 18.4% decline in first-quarter sales, leading to a revision in its annual guidance due to the challenges in the automotive industry. This decision highlights the impact of the economic downturn on the company's performance and future outlook.

https://store.livarava.com/a7c3c6b3-02e1-11ef-a6c0-63e1980711b2.jpg — STMicroelectronics Reports Significant Sales Drop and Guidance Revision

STMicroelectronics Faces Sales Decline

The Swiss chipmaker, STMicroelectronics, has reported an 18.4% drop in its first-quarter sales, signaling challenges ahead.

Guidance Cut Due to Automotive Industry Slump

The company has revised its annual guidance as a response to the negative effects of the downturn in the automotive industry.

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