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