STMicro beats Q3 profit estimates, sees Q4 sales above $4 billion
STM•STMicroelectronics reported third-quarter operating income of $429 million, up 98% year over year and above analysts’ $400.5 million estimate. It expects fourth-quarter revenue of $4.15 billion, give or take 3.5%, compared with analysts’ $4.10 billion estimate.
1. Profit beats estimates
STMicroelectronics reported third-quarter operating income excluding one-off charges of $429 million, up 98% from a year earlier and above the $400.5 million expected by analysts polled by LSEG.
2. Fourth-quarter outlook
The chipmaker expects fourth-quarter revenue of $4.15 billion, give or take 3.5%, compared with $3.76 billion in the third quarter. CEO Jean-Marc Chery said demand remains well above supply and the company is continuing to expand capacity in line with its strategic roadmap.
3. Sources of growth
Higher sales of communication equipment, computer peripherals and personal electronics drove the beat. STMicroelectronics said demand from AI data centres and satellite operators added to a broader recovery across its markets.
