Reported 1 day ago
STMicroelectronics (STM) saw a significant decline of 15.86% to $26.73 per share following a disappointing second-quarter report, revealing a net loss of $97 million compared to a profit of $353 million last year. The company's revenues fell by 14.4% year-over-year, with a cautious projection for the upcoming quarter reflecting a decrease of 2.5% year-on-year. Despite expectations of sequential revenue growth, STMicroelectronics faces challenges amid a volatile macroeconomic climate.
Source: YAHOO