STMicroelectronics Q2 Profit Up 72.8% - Quick Facts

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(RTTNews.com) - STMicroelectronics ( STM ) reported that its second-quarter net income attributable to parent company grew to $261 million or $0.29 per share from $151 million or $0.17 per share in the year-ago quarter.

Net revenue for the quarter rose 18 percent to $2.27 billion from $1.92 billion in the previous year.

On a year-over-year basis, net revenues for the quarter increased on balanced growth across all product groups, regions and end markets, with an especially strong performance in Industrial.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share for the quarter on revenues of $2.26 billion. Analysts' estimates typically exclude special items.

Looking ahead, STMicroelectronics expects third-quarter revenues to increase about 10.0% on a sequential basis, plus or minus 350 basis points. Gross margin in the third quarter is expected to be about 40.0%, plus or minus 200 basis points.

The third-quarter revenue outlook reflects continued healthy demand in the Automotive and Industrial end markets and, as anticipated, by growth in smartphone applications.

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This article appears in: Fundamental Analysis , World Markets , Stocks , Economy , Earnings
Referenced Symbols: STM ,

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