Share Name Share Symbol Market Type
ST Microelectronics BIT:STM Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.685 2.2% 31.81 31.825 31.84 32.105 30.99 31.40 2,345,953 16:35:14

STMicroelectronics Assumes EUR/USD at 1.15 in 1Q -- Currency Comment

27/01/2022 7:57am

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By Mauro Orru


STMicroelectronics NV's guidance for the first quarter assumes the euro will average about $1.15 against the dollar, a lower rate than its assumption of roughly $1.18 for the previous quarter.

The euro currently trades at $1.1216.

STMicroelectronics expects first-quarter net revenue of $3.50 billion at the mid-point and a gross margin of about 45%, plus or minus 200 basis points.

"This outlook is based on an assumed effective currency exchange rate of approximately $1.15 = EUR1.00 for the 2022 first quarter and includes the impact of existing hedging contracts," the European chip maker said.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

January 27, 2022 02:42 ET (07:42 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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