STMicroelectronics Assumes EUR/USD at 1.15 in 1Q -- Currency Comment
27 Janeiro 2022 - 4:57AM
Dow Jones News
By Mauro Orru
STMicroelectronics NV's guidance for the first quarter assumes
the euro will average about $1.15 against the dollar, a lower rate
than its assumption of roughly $1.18 for the previous quarter.
The euro currently trades at $1.1216.
STMicroelectronics expects first-quarter net revenue of $3.50
billion at the mid-point and a gross margin of about 45%, plus or
minus 200 basis points.
"This outlook is based on an assumed effective currency exchange
rate of approximately $1.15 = EUR1.00 for the 2022 first quarter
and includes the impact of existing hedging contracts," the
European chip maker said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 27, 2022 02:42 ET (07:42 GMT)
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