PARIS (Reuters) – Franco-Italian chipmaker STMicroelectronics reported a jump in third-quarter sales and profits, driven by a strong performance of its automotive and imaging businesses.
Quarterly net revenue rose 11.2 percent from the second-quarter to $2.52 billion, slightly above the company’s midpoint target.
Operating income rose by 38 percent over the period to $398 million. Gross margin stood at 39.8 percent.
STMicro said it expected fourth-quarter revenues to grow by about 5.7 percent from the previous quarter, with a gross margin of 39.8 percent.
Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by Sudip Kar-Gupta
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