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STMicroelectronics ( (STM) ) just unveiled an update.
STMicroelectronics reported a significant decline in its financial results for the fourth quarter and full year 2024, with net revenues for the year falling by 23.2% to $13.27 billion and net income decreasing by 63% to $1.56 billion compared to 2023. The company attributed the decline to a delayed recovery in the industrial sector, a slowdown in the automotive market, especially in Europe, and inventory corrections. Despite these challenges, the company has launched a program to resize its global cost base and plans to invest between $2.0 to $2.3 billion in net capital expenditures for 2025.
More about STMicroelectronics
STMicroelectronics is a global leader in the semiconductor industry, providing a wide range of electronics applications. The company focuses on analog, power and discrete, MEMS and sensors, microcontrollers, digital ICs, and RF products, serving diverse sectors including automotive, industrial, and personal electronics.
YTD Price Performance: 1.81%
Average Trading Volume: 5,627,868
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $22.05B
For detailed information about STM stock, go to TipRanks’ Stock Analysis page.
