October 26, 2017 / 5:22 AM / a year ago

STM third-quarter tops revenue and profit forecasts as it raises outlook

LONDON, Oct 26 (Reuters) - Franco-Italian chipmaker STMicroelectronics reported third-quarter revenue and net profits that topped analysts' forecasts as it raised its year-end outlook, saying it was enjoying broad-based growth across all of its business segments.

STMicro reported third-quarter net revenue of $2.14 billion, a rise of 18.9 percent year-over-year, putting the diversified chipmaker on track to deliver solid double-digit revenue growth for the full-year for the first time since 2010.

Net profit attributable to the parent company more than tripled to $236 million from $71.0 million in the year-ago quarter. That easily topped analysts forecasts which ranged from $210-$220 million, according to a Thomson Reuters poll. (Reporting by Eric Auchard; Editing by Sudip Kar-Gupta)

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