Profit decrease for STMicroelectronics

STMicroelectronics, the largest chip manufacturer in Europe, saw its profit fall in the third quarter compared to a year earlier. That emerged Thursday from a trade report from the company. Turnover did grow.

STM recorded a profit of $ 302 million, an annual decrease of more than 18 percent. The turnover increased by 1.2 percent to 2.55 billion dollars. However, the result rose sharply compared to the second quarter, by more than 88 percent. Turnover was more than 17 percent higher. Performance at the automotive division, among others, remained weak, but was offset by the results at other branches.

STM expects an increase in revenue for the fourth quarter.