STMicroelectronics reports Q3 EPS 29c, consensus 22c

Reports Q3 revenue $3.19B, consensus $3.17B. Jean-Marc Chery, ST president and CEO, commented: “Q3 net revenues came slightly above the mid-point of our business outlook range, with higher revenues in Personal Electronics, while Automotive and Industrial performed as anticipated, and CECP was broadly in line with expectations. Gross margin was slightly below the mid-point of our business outlook range mainly due to product mix within Automotive and Industrial.”