STMicroelectronics revenue, profit jump on automotive, microcontrollers strength

[marketwatch.com] 2 months ago by Mauro Orru

Dow Jones Newswires

Last Updated: Jan. 26, 2023 at 1:34 a.m. ET First Published: Jan. 26, 2023 at 1:19 a.m. ET

(FILES) This file photograph taken on October 9, 2017, shows a sign on the STMicroelectronics headquarters in Paris.

eric piermont/Agence France-Presse/Getty Images

STMicroelectronics NV on Thursday posted a surge in revenue and profit for the fourth quarter led by growth at its automotive and microcontrollers divisions.

The European chip maker STM IT:STM said net revenue climbed to $4.42 billion compared with $3.56 billion in the 2021 fourth quarter, with the company’s automotive business contributing $1.70 billion.

Net...