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STMicroelectronics Posts Rising Revenue Amid Strong Automotive Market Demand
STMicroelectronics Posts Rising Revenue Amid Strong Automotive Market Demand
STMicroelectronics reported higher revenue for the third quarter, driven by growth in its automotive division that offset weak sales in its personal electronics business.
The European chipmaker said Thursday its net revenue rose 2.5% year-on-year to $4.43 billion, with the company’s automotive business contributing $2.03 billion. of dollars. Sales at its personal electronics business fell 28%, to $990 million.
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