STMicro nearly doubles quarterly profit and guides Q4 above $4 billion

STMicroelectronics expects fourth-quarter sales above $4 billion, and its headline says quarterly profit nearly doubled. The chipmaker reported third-quarter operating profit above market expectations on Thursday. Demand from AI data centres and satellite operators added to a broader recovery in its markets. The company's outlook points to continued strength heading into the final quarter of the year.

Source: ET Tech ↗