STMicroelectronics: Q3 Earnings Snapshot

GENEVA (AP) — GENEVA (AP) — STMicroelectronics NV (STM) on Thursday reported third-quarter profit of $291 million.

The Geneva-based company said it had net income of 31 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The chip company posted revenue of $3.76 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $3.71 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STM at https://www.zacks.com/ap/STM