Chipmaker STMicroelectronics beats estimates, lifts 2022 outlook

STOCKHOLM: STMicroelectronics raised its full-year outlook on Thursday after the Franco-Italian chipmaker beat second-quarter revenue expectations helped by strong demand for chips used in products ranging from smartphones to cars.

The group, whose top clients include iPhone maker Apple and electric carmaker Tesla, strongly benefits from a surge in power-management semiconductors as the auto industry moves to low-emission vehicles, and from automation in multiple industries.