How STMicroelectronics' Shares Gained 17% Last Month
Shares of STMicroelectronics (NYSE: STM) rose 17.3% in October 2019, according to data from S&P Global Market Intelligence. Most of the Swiss semiconductor maker's gains last month hinged on a modestly promising third-quarter earnings report, which showed signs of a return to stable revenue growth after a few lean quarters.
STMicro posted top-line growth of 1.2% in the third quarter, placing its revenues at $2.55 billion. Unadjusted earnings fell 17% year over year to $0.34 per share. Your average Wall Street analyst would have settled for earnings near $0.29 per share on sales of approximately $2.5 billion, and STMicro exceeded both of these targets by a comfortable margin.
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Source Fool.com
