STMicroelectronics Reaffirms Medium-term Revenue Target of $18 Billion

08:29 AM EDT, 10/29/2026 (MT Newswires) -- STMicroelectronics (STMMI.MI, STMPA.PA) confirmed its ambition to achieve at least $18 billion in revenue between 2027 and 2028, with revenue expected to be more balanced across its end markets. "We will be first, overall, better balanced between our business related to infrastructure overall. So, both digital, power supply, energy renewal, this kind of business versus device, so automotive and consumer," Chief Executive Officer Jean-Marc Chery said in a media call for its third-quarter results. "So, yes, $18 billion confirmed and in a much better balance compared to what we expected three years ago during our 2024 market cap." The European semiconductor maker recorded a 17.9% year-over-year jump in net revenue to $3.76 billion in the three months ended Sept. 30. It said strong demand in artificial intelligence data centers and low earth orbit, or LEO, satellite communications supported its growth. Looking forward, the company forecasts net revenue of $4.15 billion in the fourth quarter, plus or minus 350 basis points, up 24.7% year over year at the midpoint. For full-year 2026, net revenue is projected to reach $14.5 billion, representing an annual growth of 22.8%.