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Chipmaker STMicroelectronics revenue beats estimates

Chipmaker STMicroelectronics revenue beats estimates

Reuters · 07/28/2022 01:06
Chipmaker STMicroelectronics revenue beats estimates

- Franco-Italian chipmaker STMicroelectronics STM on Thursday reported second-quarter revenue above analysts' expectations as the company benefited from strong demand for its chips used in smartphones to cars.

The Geneva-based company's quarterly revenue rose to $3.84 billion from $3.0 billion a year earlier, beating analysts' estimate of $3.69 billion, according to IBES data from Refinitiv.

Its diluted earnings rose to 92 cents per share, beating an estimate of 76 cents per share.


(Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm, editing by Terje Solsvik)

((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004; Reuters Messaging: supantha.mukherjee.thomsonreuters.com@reuters.))