GENEVA (dpa-AFX) - STMicroelectronics N.V. (STM), a semiconductor manufacturer, Thursday reported higher earnings on higher revenue for the third quarter compared to the same period last year.
Further, the company provided its outlook for the fourth quarter.
Quarterly earnings increased 22.8 percent to $291 million or $0.31 per share from $237 million or $0.26 per share last year.
Excluding one-time items, earnings rose 28.7 percent to $344 million or $0.37 per share from $267 million or $0.29 per share previous year.
Revenue grew 17.9 percent to $3.76 billion from $3.19 billion prior year driven by higher revenues in CECP and Personal Electronics.
Looking forward to the next quarter, the company expects net revenue to be $4.15 billion, an increase of 10.5 percent sequentially, and about 24.7 percent year-over-year, plus or minus 350 basis points.
'The mid-point of this outlook translates into full year 2026 revenues of about $14.5 billion, representing a 22.8% year-over-year increase.', STM commented.
On Wednesday, shares closed at $48.52, down 0.33% on the New York Stock Exchange.
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