$STMicroelectronics (STM.US)$STMicroelectronics released its Q2 financial results before Thursday's Eastern Time. The data showed that the company's Q2 revenue was $3.23 billion, down 25% year-on-year, slightly lower than the analyst's consensus forecast of $3.2 billion. The diluted earnings per share for Q2 were $0.38, higher than the consensus forecast of $0.35. In addition, due to excess inventory and a decline in auto manufacturer sales suppressing demand, the company has revised down its annual revenue forecast for the second time this year.

STMicroelectronics announced that it will lower its revenue forecast for the year to $13.2 billion to $13.7 billion, previously expected to be $14 billion to $15 billion. This is the company's second downward revision of its annual forecast this year. In January of this year, the chip manufacturer's annual revenue forecast was as high as $16.9 billion.

In this earnings season, the performance of chip manufacturers is mixed. The industry leader $Texas Instruments (TXN.US)$released its financial results after Tuesday's trading, and gave a relatively positive performance outlook, saying that Chinese electronics manufacturers are increasing orders again after disposing of unused parts. The expected guidance for performance made Wall Street believe that the demand for simulated chips is nearing the end of its decline.

At the same time, Dutch chip manufacturer $NXP Semiconductors (NXPI.US)$also announced its second-quarter financial results this week. Due to a decrease in orders for automotive chips, the company's revenue declined, and the performance outlook released was also disappointing, which immediately caused the company's stock price to plummet by 7%.

STMicroelectronics CEO Jean-Marc Chery said in the report: "Contrary to our previous expectations, industrial customer orders did not improve this quarter, and demand for automobiles declined." He said that the automotive business revenue was lower than expected, offsetting the growth in personal electronics sales.

STMicroelectronics' customers include $Tesla (TSLA.US)$And.$Apple (AAPL.US)$, electric car and smart phone manufacturers. The company announced last month that it will buy back up to $1.1 billion of its own shares over the next three years after completing its previous buyback program, equivalent to 2.8% of its issued shares.

The company's stock price has fallen 21% this year. As of publication, night trading has fallen 7.26%, to $36.67. Trading in Paris on Wednesday was almost unchanged.

Editor: Eason