STMicroelectronics lifts fourth quarter sales

LONDON: European chipmaker STMicroelectronics on Thursday reported fourth-quarter sales ahead of market expectations, despite challenging economic conditions, benefiting from strong customer demand.

The firm’s net revenue rose to $4.42 billon compared to $4.32 billion the previous quarter. Analysts had on average expected sales of $4.32 billion, according to IBES data from Refinitiv.