Investing.com - STMicroelectronics reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
STMicroelectronics announced earnings per share of $0.09 on revenue of $1.8B. Analysts polled by Investing.com anticipated EPS of $0.05 on revenue of $1.81B.
STMicroelectronics shares are up 14% from the beginning of the year and are trading at $27.38 , down-from-52-week-high.They are outperforming the STOXX 600 which is down 9.69% from the start of the year.
STMicroelectronics shares gained 2.51% in intra-day trade the report.
STMicroelectronics follows other major Technology sector earnings this month
STMicroelectronics's report follows an earnings missed by Ingenico on Wednesday, who reported EPS of $1.39 on revenue of $584M, compared to forecasts EPS of $1.94 on revenue of $899M.
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