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Good News - STM Q3 Beats earnings, revenues SA - https://seekingalpha.com/pr/16980418-stmicroelectronics-reports-2017-third-quarter-nine-months-financial-results STMicroelectronics Reports 2017 Third Quarter and Nine Months Financial Results|GlobeNewswire|About: STM Q3: 10-22-17 Earnings Summary EPS of $0.28 beats by $0.03 Revenue of $2.14B (+ 18.9% Y/Y) beats by $50M
Geneva, October 26, 2017 - STMicroelectronics (STM) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported financial results for the third quarter and nine months ended September 30, 2017. Third quarter net revenues totaled $2.14 billion, gross margin was 39.5%, and net income was $236 million, or $0.26 per share. "In the third quarter we achieved a number of important milestones: quarterly revenues exceeded $2.1 billion, up almost 19% year-over-year; gross margin was 39.5% and operating margin before impairment and restructuring was 13.7%," said Carlo Bozotti, STMicroelectronics President & CEO. "All product groups recorded double-digit year-over-year revenue growth, driven by strong demand across all geographies in our focus application areas of Internet of Things, Smartphones, Industrial and Smart Driving. "ST's transformation, focused on sustainable revenue growth across our entire portfolio, is taking shape, driven by our technologies, products, people and diversified customer base. We are determined to continue on this growth and innovation trajectory, underpinned by a solid financial position and enhanced liquidity." Quarterly Financial Summary (US$ Million) |
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