STMicroelectronics reports stronger profits

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The profits announced by STMicroelectronics NV in the first quarter were higher than previous estimates of profits. The company reported profits of 39 cents per share, 17 cents higher than the same quarter last year when the company reported EPS of 22 cents.

Profits of 38 cents per share were anticipated by the six analysts providing estimates for the quarter. Wall Street expected results to range from 34 cents to 40 cents per share, with a forecasted mean of 38 cents per share. The company reported revenue of $ 3.02 billion , which is higher than the estimated $2.92 billion.

via Reuters

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