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STMicro posts better-than-expected first-quarter results

PARIS, April 29 (Reuters) - Franco-Italian chipmaker STMicroelectronics posted better-than-expected revenue and profits for the first quarter of 2020, as strong demand from the automotive and industrial sectors underpinned sales.

The Geneva-based company reported first-quarter net revenues of $3.02 billion, beating a Refinitiv IBES estimate of $2.92 billion. The group generated a gross margin of 39% for the period, above its own expectations.

Reporting by Mathieu Rosemain; Editing by Christian Schmollinger

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