Salem Radio Network News Saturday, September 18, 2021


STMicroelectronics revenue beats forecasts on chip demand from car, phone makers

STOCKHOLM (Reuters) – STMicroelectronics on Thursday posted second-quarter revenue ahead of analysts’ expectations as the Franco-Italian chipmaker benefited from strong demand for its chips used in smartphones to cars.

The Geneva-based company’s quarterly net revenue rose to $2.99 billion from $2.09 billion a year earlier, beating analysts’ estimate of $2.89 billion, according to IBES data from Refinitiv.

(Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm, Editing by Helena Soderpalm)


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Michael Ramirez
Thu, Sep 9, 2021