Jean-Marc Chery, STMicroelectronics President & CEO, commented: “Q3 net revenues came in substantially at the mid-point of ou rbusiness outlook range, up 6.9% sequentially and up 19.9% on a year-over-year basis. The revenue performance was driven by strong global demand and by our engaged customer programs in Personal Electronics.
This was partially offset by lower than expected revenues in Automotive, caused by more severe than anticipated reduced operations at our Malaysian manufacturing facility due to the pandemic.
“First nine months net revenues increased 31.8% year-over-year, driven by growth in all product groups, except the RF Communications sub-group,” added Chery.