Investing.com - STMicroelectronics reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
STMicroelectronics announced earnings per share of $0.92 on revenue of $3.83B. Analysts polled by Investing.com anticipated EPS of $0.7959 on revenue of $3.74B.
STMicroelectronics shares are down 19% from the beginning of the year, still down 24.48% from its 52 week high of $46.33 set on November 22, 2021. They are under-performing the CAC 40 which is down 12.51% from the start of the year.
STMicroelectronics shares lost 100.00% in pre-market trade following the report.
STMicroelectronics follows other major Information Technology sector earnings this month
STMicroelectronics's report follows an earnings beat by Dassault Systemes on Tuesday, who reported EPS of $0.26 on revenue of $1.38B, compared to forecasts EPS of $0.2497 on revenue of $1.33B.
Edenred had missed expectations on Wednesday with second quarter EPS of $0.64 on revenue of $453M, compared to forecast for EPS of $0.74 on revenue of $447M.
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