Core Viewpoint - STMicroelectronics (STM.N) reported disappointing earnings outlook, leading to a significant drop in stock prices, with declines exceeding 10% on both Paris and Milan stock exchanges [1][3]. Financial Performance - For Q3, STMicroelectronics reported revenue of $3.187 billion, a year-on-year decrease of 2% but a quarter-on-quarter increase of 15.2% [5]. - Net profit fell from $351 million to $267 million, with a gross margin of 33.2%, showing a slight year-on-year decline [5]. Earnings Forecast - The company projected Q4 revenue of $3.28 billion, below the analyst consensus of $3.35 billion [7]. - STMicroelectronics lowered its 2025 capital expenditure plan to slightly below $2 billion, down from a previous expectation of $2 billion to $2.3 billion, citing current market conditions [7]. Market Sentiment - The earnings forecast has raised concerns about the sustainability of recovery in the mature semiconductor industry, especially following Texas Instruments' pessimistic outlook that led to a 5% drop in its stock [3][9]. - Analysts from JPMorgan maintained a "neutral" rating on STMicroelectronics, with a target price of €26.40 per share, highlighting uncertainties in growth expectations for FY2026, particularly due to ongoing weakness in the automotive sector [7][8].
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Zheng Quan Shi Bao·2025-10-23 13:43