STMicro Sees Third-Quarter Sales Trailing Estimates
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STMicroelectronics NV, Europe’s largest chipmaker, forecast third-quarter revenue will grow by about 2.5 percent from the previous period, indicating sales may miss analysts’ estimates amid weaker demand.
Sales for the three months ending Sept. 29 will increase in the range of 2.5 percent, plus or minus 3 percentage points, the company said yesterday. At the midpoint of the forecast, revenue would be $2.2 billion, missing the average analyst estimate of $2.31 billion, according to data compiled by Bloomberg. Second-quarter sales rose 6.5 percent from the first quarter.