STMicro posts quarterly loss, mobile business weighs
SAN FRANCISCO (Reuters) - European chipmaker STMicroelectronics (STM.PA) posted a quarterly net loss, hurt by troubles at its mobile chip unit, and forecast a decline in revenue for the March quarter.
STMicroelectronics, which makes chips for cars, computers and mobile phones, reported fourth-quarter revenue of $2.162 billion, down from $2.191 billion in the year-ago quarter.
The company said current-quarter revenue would fall 7 percent sequentially, plus or minus 3.5 percentage points.
It had a fourth-quarter net loss of $428 million, compared with a net loss of $11 million the same quarter a year earlier.
Analysts on average expected fourth-quarter revenue of $2.148 billion, according to Thomson Reuters I/B/E/S.
(Reporting By Noel Randewich; Editing by Steve Orlofsky)
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