On July 23, STMicroelectronics NV fell 12.44% in pre-market trading, trading at $57.34/share, with turnover of $955,500. The sell-off was triggered by a Q3 revenue guidance miss despite a Q2 earnings beat.

STMicroelectronics NV reported Q2 adjusted EPS of $0.31, beating the consensus estimate of $0.27-0.28 by approximately 15%, while revenue of $3.487 billion also exceeded expectations of $3.38-3.47 billion. However, the company guided Q3 revenue to $3.7 billion (plus or minus 3.5%), falling short of analyst estimates ranging from $3.72 to $3.79 billion. CEO Jean-Marc Chery noted improving demand across all end markets with strong orders and tightening supply in multiple product categories, and projected Q4 revenue to exceed $4 billion.

Analysts pointed out that the stock had already surged approximately 160% year-to-date, with end-market recovery and data center growth expectations fully priced in. Citi noted that the guidance failing to exceed expectations prompted significant profit-taking. In European trading, the stock fell as much as 17% in Milan, dragging broader indices lower and weighing on peers including Infineon, which dropped 5.6%.

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