STMicroelectronics Beats Estimates and Forecasts Growth
The Franco-Italian chipmaker reported first quarter revenue of 3.10 billion dollars as demand recovered. The company expects second quarter sales to reach 3.45 billion.
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STMICROELECTRONICS NV has reported first-quarter financial results that exceeded market expectations, signaling a potential turnaround for the semiconductor industry. The chipmaker, which maintains significant operations in France and Italy, posted revenue of $3.10 billion for the first three months of the year, surpassing the $3.04 billion projected by analysts.
