GENEVA (AP) — GENEVA (AP) — STMicroelectronics NV (STM) on Thursday reported a loss of $97 million in its second quarter.
On a per-share basis, the Geneva-based company said it had a loss of 11 cents. Earnings, adjusted for non-recurring costs, were 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The chip company posted revenue of $2.77 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.72 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STM at https://www.zacks.com/ap/STM
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