股价暴跌13.26%！意法半导体预计Q4营收32.8亿美元不及预期，芯片复苏停滞

Core Viewpoint - STMicroelectronics reported disappointing earnings outlook, leading to a significant drop in stock prices across European exchanges, with declines exceeding 10% in Milan and over 13% in the US market [1][2]. Financial Performance - For Q3, STMicroelectronics reported revenue of $3.187 billion, a year-on-year decline of 2% but a quarter-on-quarter increase of 15.2%. Net profit decreased from $351 million to $267 million, with a gross margin of 33.2%, showing a slight year-on-year decline [4][6]. - The company forecasts Q4 revenue at $3.28 billion, below analyst expectations of $3.35 billion. Q3 revenue was $3.19 billion, surpassing analyst predictions of $3.12 billion, while operating profit was $180 million, lower than the expected $214.4 million [2][6]. Capital Expenditure and Market Conditions - STMicroelectronics has lowered its 2025 capital expenditure plan to slightly below $2 billion, down from a previous range of $2 billion to $2.3 billion, citing current market conditions [6][10]. - Prior to the earnings report, the company indicated potential growth in automotive and industrial sectors for Q4, driven by improved capacity utilization and production efficiency [7]. Industry Context - The semiconductor industry is facing challenges due to geopolitical tensions, particularly between the US and China, affecting supply chains and customer orders [8][11]. - Competitors like Texas Instruments have also issued disappointing forecasts, indicating a broader trend of reduced orders amid economic uncertainty [11].