StMicroelectronics closed the third quarter with a net profit that jumped to 236 million dollars, against 151 million in the second quarter and 71 million a year earlier. Revenues reached $2,14 billion instead, compared to 1,92 billion in the previous quarter and with an increase of almost 18,9% for the year. Gross margin was 39,5% and operating margin before impairment and restructuring charges was 13,7%. In the wake of these numbers, Stm's share on the Stock Exchange gains 6 percent one hour after the opening, achieving the best rise of the Ftse Mib.
“Across all product groups – commented Carlo Bozotti, President & Chief Executive Officer of STMicroelectronics in a note – we achieved double-digit revenue growth year over year, driven by robust demand in all geographic regions in applications where we aim more: Internet of Things, Smartphone, Industrial and Smart Driving. We are determined to continue on this trajectory of growth and innovation, supported by a solid financial position and strengthened liquidity."
Looking at the year as a whole, "based on the results for the first nine months and our guidance on the interim value of revenues in the fourth quarter - he continued - 2017 net revenues should, according to our expectations, grow by approximately 18,0, XNUMX% year-over-year, coupled with substantial improvement in operating profitability and net income.”
As regards the fourth quarter, “we continue to see sustained demand for all product groups and geographic regions – concluded Bozotti – Considering the robust trend in orders and the expected acceleration in growth of our new program for wireless applications, we expect sequential revenue growth of approximately 10,0% interim and gross margin growth of approximately 39,9% interim in the fourth quarter.”
