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.
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(END) Dow Jones Newswires