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UPDATE: STMicroelectronics Posts Wider Q4 Loss

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STMicroelectronics NV (NYSE: STM) posted a wider fourth-quarter loss.

STMicroelectronics posted a quarterly loss of $428 million, or $0.48 per share, versus a year-ago loss of $11 million, or a penny per share. Excluding one-time items, it lost $0.11 per share. However, analysts expected a loss of $0.05 per share.

Its revenue dropped 1.3% to $2.16 billion. The company in October had expected revenue of $2.06 billion to $2.21 billion.

Its gross margin declined to 32.3% from 33.4%.

STMicroelectronics shares fell 0.83% to close at $8.32 yesterday.

Posted-In: lossEarnings News


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