TECH - Not All Chipmakers Are Doing Great; STMicroelectronics Lowers Annual Outlook After Q1 Performance | Benzinga
STMicroelectronics NV (NYSE: STM) reported a first-quarter revenue decline of 18.4% year-on-year to $3.47 billion, missing the consensus of $3.62 billion. EPS of $0.54 missed the consensus of $0.59.
Sales to OEMs decreased by 11.5% Y/Y, and Distribution sales fell by 30.8% Y/Y.
Analog products, MEMS, and Sensors (AM&S) segment revenue declined 13.1% Y/Y to $1.22 billion, mainly due to a decrease in MEMS and Imaging.
Power and Discrete products (P&D) segment revenue decreased 9.8% Y/Y to $820 million mainly due to a decrease in Discrete.
Microcontrollers (MCU) segment revenue reduced 34.4% Y/Y to $950 million, mainly due to a decrease in GP MCU.
Digital ICs and RF products (D&RF) segment revenue decreased 2.1% Y/Y to $475 million due to a decrease in ADAS.
Margins: The gross margin declined by 800 ...