July 25, 2019 / 5:42 AM / a month ago

CORRECTED-BRIEF-STMicroelectronics Lowers FY Net Revenue Target To Around $9.35-9.65 Bln

(Corrects headline to specify net revenue target revised downwards)

July 25 (Reuters) - STMICROELECTRONICs NV:

* REG-STMICROELECTRONICS REPORTS 2019 SECOND QUARTER FINANCIAL RESULTS

* FOR FULL YEAR 2019, WE NOW EXPECT NET REVENUES TO BE IN RANGE OF ABOUT $9.35 TO $9.65 BILLION

* FOR Q3 2019 SEES GROSS MARGIN OF ABOUT 37.5%, PLUS OR MINUS 200 BASIS POINTS

* WE CONFIRM OUR INVESTMENT PLAN OF $1.1 TO $1.2 BILLION

* FOR Q3 SEES NET REVENUES ARE EXPECTED TO INCREASE ABOUT 15.3% SEQUENTIALLY, PLUS OR MINUS 350 BASIS POINTS

* FOR Q3 SEES GROSS MARGIN OF ABOUT 37.5%, PLUS OR MINUS 200 BASIS POINTS

* Q3 OUTLOOK IS BASED ON ASSUMED EFFECTIVE CURRENCY EXCHANGE RATE OF ABOUT $1.15 = €1.00 FOR Q3 AND INCLUDES IMPACT OF EXISTING HEDGING CONTRACTS Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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