UPDATE: STMicroelectronics Posts Wider Q4 Loss

STMicroelectronics NV

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.