STMicro nearly doubles quarterly profit, sees Q4 sales exceeding $4 billion
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By Nathan Vifflin and Fabrizio La Rocca Oct 29 (Reuters) STMicroelectronics reported a third-quarter operating profit above market expectations on Thursday, as demand from AI data centres and satellite operators added to a broader recovery in the chipmaker s markets. Operating income excluding one-off charges was $429 million, nearly doubling from a year ago and beating the $400.5 million expected by analysts polled by LSEG. The Franco-Italian chipmaker said it expected fourth-quarter revenue of $4.15 billion, up from $3.76 billion in the third quarter, give or take 3.5%. Analysts polled by LSEG had expected $4.10 billion. In an environment where demand remains well above supply, we continue to expand capacity aligned with ST s strategic roadmap, CEO Jean-Marc Chery said in the earnings statement. STMicro, which makes chips ranging from microcontrollers to sensors and power semiconductors for cars, factories and smartphones, said higher sales of communication equipment, co