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STMicroelectronics +10% amid forecasted macro-risk decline, continued momentum

Published 10/27/2016, 03:47 PM
STMicroelectronics +10% amid forecasted macro-risk decline, continued momentum
  • Q3 highlights – Revenue higher by 5.5% Q/Q, 1.9% Y/Y president and CEO Carlo Bozotti: "Demand is currently strong in the smartphone market and we continue to see positive trends in automotive and industrial . . . While we remain mindful of macroeconomic factors and their potential impact on our customers and the semiconductor market, we see less macro risk than we did earlier in the year."
  • Q4 projections – Revenue to grow 3.2% Q/Q (+/-3.5 percentage points), gross margin to be at 37% (+/-2 percentage points).
  • Press release

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