SAN FRANCISCO, April 26 (Reuters) - STMicroelectronics posted a 9 percent jump in first-quarter revenue to $2.53 billion, defying supply chain concerns following Japan's earthquake.
Europe's top chipmaker said revenue in the current quarter would hold steady, from down about 2 percent to up 5 percent from the first quarter.
Analysts had expected first-quarter revenues of $2.58 billion and second-quarter revenue of $2.71 billion, according to Thomson I/B/E/S.
Net profit tripled to $170 million, or 19 cents a share, from $57 million, or 6 cents a share, a year earlier. That compared with the 21 cents expected by analysts on average.
STMicroelectronics produces less than 5 percent of its chips in Japan, but could be hurt by shortages of components. In March it said that the quake posed a risk to revenues in the first and second quarters, but that it was not altering its guidance. Keywords: STMICRO/ (leila.abboud@thomsonreuters.com; + 33 1 49 49 51 82; Reuters Messaging: leila.abboud.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Europe's top chipmaker said revenue in the current quarter would hold steady, from down about 2 percent to up 5 percent from the first quarter.
Analysts had expected first-quarter revenues of $2.58 billion and second-quarter revenue of $2.71 billion, according to Thomson I/B/E/S.
Net profit tripled to $170 million, or 19 cents a share, from $57 million, or 6 cents a share, a year earlier. That compared with the 21 cents expected by analysts on average.
STMicroelectronics produces less than 5 percent of its chips in Japan, but could be hurt by shortages of components. In March it said that the quake posed a risk to revenues in the first and second quarters, but that it was not altering its guidance. Keywords: STMICRO/ (leila.abboud@thomsonreuters.com; + 33 1 49 49 51 82; Reuters Messaging: leila.abboud.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.