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Why Shares of STMicroelectronics Jumped Today

TheMotleyFool

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Why Shares of STMicroelectronics Jumped Today

Shares of electronics and semiconductor manufacturer STMicroelectronics NV (NYSE: STM) jumped on Thursday following a strong third-quarter report. ST beat analyst estimates across the board, and it provided full-year guidance above expectations. At 3:30 p.m. EDT, the stock was up about 11%.

ST reported third-quarter revenue of $2.14 billion, up 18.9% year over year and $50 million above the average analyst estimate. All the company's major product groups produced double-digit year-over-year growth:

Image source: STMicroelectronics.

Source: Fool.com