STMicroelectronics Reports Q3 Revenue of $3.19 Billion

Deep News

10/23

In early trading on Thursday, shares of STMicroelectronics NV (STM) fell by 11.2% after the company reported a third-quarter non-GAAP EPS of $0.29, exceeding expectations by $0.07, with revenues totaling $3.19 billion. STMicroelectronics expressed an optimistic outlook for the fourth quarter, predicting sequential revenue growth and a gross margin of approximately 35%. In response to market conditions, the company is optimizing investments and reducing its capital expenditure plans.

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