PARIS (Reuters) – Franco-Italian chipmaker STMicroelectronics reported third-quarter sales and gross margin that beat market expectations, with demand rising across all its product lines.
Net revenues for the period rose by 12.6% from the previous quarter to $4.32 billion, above the company’s own guidance and the $4.24 billion analyst consensus compiled by Visible Alpha.
Gross margin came at 47.6% in the third quarter, slightly above market expectations.
(Reporting by Mathieu Rosemain; Editing by Muralikumar Anantharaman)
