STMicroelectronics Aims To Return To Sequential Revenue Growth In Q2

(RTTNews) - While reporting its first-quarter financial results on Wednesday, semiconductor company STMicroelectronics NV (STM) said it plans to return to sequential revenue growth in the second quarter.

The company's second-quarter outlook, at the mid-point, is for net revenues to increase about 2.4 percent sequentially, while gross margin is expected to be about 38.5 percent.

For fiscal 2019, STMicroelectronics expects net revenues in a range of about $9.45 billion to $9.85 billion. The company plans for strong sequential growth in the second half of the year compared with the first half, across the Industrial, Automotive and Personal Electronics end markets.

On average, analysts polled by Thomson Reuters expect revenues of $9.48 billion for the year. Analysts' estimates typically exclude special items.