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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ST Microelectronics | BIT:STM | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From May 2019 to May 2024
By Joshua Kirby
STMicroelectronics NV raised its revenue outlook for the year after third-quarter revenue came in above previous guidance thanks to better-than-expected market conditions in some of its segments, such as automotive products.
The European chip maker said Thursday that it now expects 2020 revenue to be above $9.65 billion, which was the upper range of its previous guidance.
The improved expectations come after preliminary figures showed that revenue for the quarter ended Sept. 26 was $2.67 billion, higher than the $2.45 billion expected.
Chief Executive Jean-Marc Chery said sharp acceleration in demand for automotive products and microcontrollers contributed to the better-than-expected performance.
STMicroelectronics will release third-quarter earnings and fourth-quarter guidance on Oct. 22, it said.
Write to Joshua Kirby at joshua.kirby@dowjones.com
(END) Dow Jones Newswires
October 01, 2020 01:52 ET (05:52 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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