US Stocks Move | STMicroelectronics (STM.US) drops over 17% as Q3 revenue guidance misses expectations

According to Golden Ten Data APP, on Thursday, STMicroelectronics (STM.US) plunged over 17%, closing at $54.16. According to reports, STMicroelectronics released its performance guidance, stating that thanks to demand from artificial intelligence data centers boosting its business, revenue is expected to grow in the current quarter. According to the statement released by the company, based on the midpoint of the guidance range, third-quarter revenue is expected to increase by about 6.2% year-on-year to $3.7 billion. This figure is slightly below the average analyst expectation of $3.79 billion compiled by the market.