STMicro Forecast Beats Estimates on Auto, Networking Business

  • Chipmaker’s quarterly sales helped by auto, internet of things
  • Macroeconomic risks, especially in Europe, could impact demand

STMicroelectronics NV, Europe’s biggest semiconductor maker, forecast sales in the third quarter will grow faster than analysts had expected, though macroeconomic uncertainties linger and could impact demand for chips. The company’s growth forecast beat analysts’ estimates and led the stock to a six-month high in Paris.

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