STMicro’s Q3 revenue view slightly lags estimates even as chip demand recovers

STMicroelectronics forecast a third-quarter revenue with a midpoint slightly below market expectations on Thursday, but said chip demand from automotive, AI-related, data-centre optical and consumer electronics markets was recovering.

The Franco-Italian chipmaker ‌forecast third-quarter ⁠revenue ⁠of $3.70 billion, plus or minus 3.5%, compared with ​analysts’ average estimate of $3.72 billion, according to LSEG data.