UPDATE: STMicroelectronics Posts Wider Q4 Loss
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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.