STMicroelectroncis (STM) Tumbles 13% as Earnings Disappoint

Core Insights - STMicroelectronics NV (NYSE:STM) experienced a significant decline of 13.26% in its stock price, closing at $25.26, following disappointing earnings results for the third quarter [1] - The company's net income fell by 32.3%, dropping to $237 million from $351 million year-on-year [1] - Net revenues decreased by 2% to $3.187 billion from $3.25 billion, although this figure was slightly above the company's expectations [2] Financial Performance - The third quarter net income was reported at $237 million, a decrease of 32.3% compared to the previous year [1] - Net revenues for the third quarter were $3.187 billion, down 2% from $3.25 billion year-on-year [2] Future Outlook - STMicroelectronics aims to achieve $11.75 billion in total revenues for the full year 2025, with a target of $3.28 billion for the fourth quarter alone [3] - The company's strategic priorities include accelerating innovation and restructuring its manufacturing footprint while resizing its global cost base [3]