Tesla supplier ST Microelectronics revises 2024 sales guidance downward

ST Microelectronics NV announced on Thursday that it will lower its sales guidance for the full year 2024 from the current 14 billion dollars to 15 billion dollars to 13.2 billion dollars to 13.7 billion dollars.

This movement was revealed during the announcement of financial results for the 2nd quarter, and the gross profit margin was 40.1% (49.0% in the same quarter of 2023). Net sales of Europe's largest semiconductor manufacturer fell 25.3% to 3.2 billion dollars, and profit per share after dilution fell 64.2% to 0.38 dollars. Net profit was 0.3 billion 53 million dollars, down 64.8%.

Customers of technology companies based in Switzerland include brands such as Apple, Bosch, Continental, Tesla, SpaceX, Huawei, Hyundai Motors, HP, and Samsung.