STMicroelectronics NV (FR:STMPA) has released an update.
STMicroelectronics reported a third-quarter revenue of $3.25 billion, marking a 26.6% year-on-year decline, with a net profit of $351 million. Despite challenges, the company is launching a program to enhance production capacity and reduce costs, aiming for long-term growth and efficiency. These strategic moves come as they forecast a slight revenue increase for the fourth quarter, amidst broader market pressures.
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