STMicroelectronics (STM) reported fiscal Q1 earnings Thursday of $0.06 per diluted share, down from $0.54 a year earlier.

Analysts polled by FactSet expected $0.04.

Net revenue for the quarter ended March 29 was $2.52 billion, down from $3.47 billion a year earlier.

Analysts surveyed by FactSet expected $2.52 billion.

The company expects fiscal Q2 revenue to be $2.71 billion at the midpoint. Analysts polled by FactSet expect $2.64 billion.

Shares of the company added more than 2% in pre-bell activity.

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