Feeds

STMicro sees 33 per cent profit jump

Strong Q3 and first nine months for Euro chip maker

  • alert
  • submit to reddit

Intelligent flash storage arrays

Healthy demand for chips for mobile devices has powered a 33 per cent increase in profit for STMicroelectronics. For its third quarter, ending 2 October, Europe's number two chip maker saw profit up to $135.3 million, from $101.6 million for last year's Q3. Sales for the period were up 23 per cent to $1.27 billion, against last year's figure of $1.03 billion for the equivalent. Taking the first nine months of the year, net profit was up 25.4 per cent to $363 million, on sales of $3.6 billion - up 16 per cent. From mobile phones to set-top boxes and beyond, demand for STMicro's chips shows no sign of flagging. The company is investing $3.18 billion to boost capacity in order to keep on top of this rising demand. Last month, the company raised around $925 million from a share issue which reduced the stake held in it by the governments of Italy and France. STMIcro's fabs in northern Italy and southern France are being equipped to ramp up work on flash memory products and should be producing 1000 wafers per week by early next year. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?