GENEVA (dpa-AFX) - STMicroelectronics NV (STM) announced a profit for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $56 million, or $0.06 per share. This compares with $513 million, or $0.54 per share, last year.
Analysts on average had expected the company to earn $0.05 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 27.4% to $2.517 billion from $3.465 billion last year.
STMicroelectronics NV earnings at a glance (GAAP) :
-Earnings: $56 Mln. vs. $513 Mln. last year. -EPS: $0.06 vs. $0.54 last year. -Revenue: $2.517 Bln vs. $3.465 Bln last year.
For the second quarter, the company expects net revenues to be $2.71 billion, an increase of 7.7% sequentially, plus or minus 350 basis points.
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