STMicroelectronics ADR reported on Friday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
STMicroelectronics ADR announced earnings per share of $0.21 on revenue of $2.23B. Analysts polled by anticipated EPS of $0.22 on revenue of $2.29B. That with comparison to EPS of $0.2 on revenue of $2.08B in the same period a year before. STMicroelectronics ADR had reported EPS of $0.43 on revenue of $2.75B in the previous quarter. Analysts are expecting EPS of $0.07 and revenue of $2.03B in the upcoming quarter.
STMicroelectronics ADR shares are up 3.9% from the beginning of the year , still down 12.57% from its 52 week high of $31.98 set on February 13. They are outperforming the EUR/USD which is down 0% year to date.
STMicroelectronics ADR follows other major Technology sector earnings this month
STMicroelectronics ADR's report follows an earnings beat by NVIDIA on May 21, who reported EPS of $1.8 on revenue of $3.08B, compared to forecasts EPS of $1.65 on revenue of $2.97B.
Cisco had beat expectations on May 13 with third quarter EPS of $0.79 on revenue of $11.98B, compared to forecast for EPS of $0.71 on revenue of $11.88B.
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