08:13 AM EDT, 04/25/2024 (MT Newswires) -- STMicroelectronics ( STM ) reported fiscal Q1 earnings Thursday of $0.54 per diluted share, down from $1.10 a year earlier.

Analysts polled by Capital IQ expected $0.56.

Net revenue for the quarter ended March 30 was $3.47 billion, down from $4.25 billion a year earlier.

Analysts surveyed by Capital IQ expected $3.61 billion.

For fiscal Q2, the company expects net revenue of roughly $3.2 billion. Four analysts polled by Capital IQ expect $3.72 billion.

Shares of the company were up 2.3% in recent Thursday premarket activity.

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