STMicroelectronics Result 02/11/2015

STMicroelectronics reported Q3 net profit of $90 million, a 25% increase YoY and a massive 157% increase QoQ. Turnover was reported at $1.76 billion, down 6.5% YoY, sequentially remaining flat. Gross margin was reported at 34.8%, a half-percent increase YoY. For the nine month period, net profit was reported at $102 million, compared to $85 million a year ago. Turnover for the same period was 6.2% lower YoY at $5.23 billion. Lower automotive demand in China was cited as the key reason for the decline in turnover.