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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Apr 2021 to Apr 2024
By Mauro Orru
STMicroelectronics NV's guidance for the second quarter assumes the euro will average $1.18 against the dollar, a lower rate than its first-quarter assumption of $1.20 and weaker than the euro's current level.
The euro currently trades at $1.2130.
STMicroelectronics forecasts second-quarter net revenue of $2.9 billion at the midpoint, and a gross margin of about 39.5%.
"This outlook is based on an assumed effective currency exchange rate of approximately $1.18 = €1.00 for the 2021 second quarter and includes the impact of existing hedging contracts," the European chip maker said.
The company had factored in an exchange rate of approximately $1.20 at the end of January when it issued guidance for the first quarter.
The euro's closing level on March 31 was $1.1731, according to FactSet. It has risen since then, reaching a two-month high of 1.2151 earlier Thursday.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 29, 2021 07:44 ET (11:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
1 Year ST Microelectronics Chart |
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