ST Q3 up 11% sequentially and 18.9% y-o-y

ST had Q3 revenues of $2.14 billion up 11.1% on Q2 and up 18.9% on Q3 2016. Gross profit was $845 million and net profit was $236 million with a gross margin of 39.5%.

“All product groups recorded double-digit year-over-year revenue growth, driven by strong demand across all geographies in our focus application areas of Internet of Things, Smartphones, Industrial and Smart Driving,” says ST CEO Carlo Bozotti (pictured).

Bozotti forecast a 10% increase in revenues for Q4 and a 18% increase for the year.

Sequentially, Microcontrollers and Digital ICs Group (MDG) revenues were up 14.6%,
Analog and MEMS Group (AMG) was up 4.2% and Automotive and Discrete Group (ADG) was up 2.6%.

Imaging Product Division revenues, had a triple-digit sequential revenue growth reflecting the initial ramp in wireless applications, including the Company’s Time-of-Flight and specialized imaging technologies.

Y-o-y, Analog and MEMS Group (AMG) revenues grew 24.8%m Microcontrollers and Digital ICs Group (MDG) revenues increased 19.4%, Automotive and Discrete Group (ADG) increased 10.0%.

Sequentially, US revenues grew 14.5%, Asia Pac by 10.8%, and EMEA was up by 10.0%.

Y-o-y, EMEA revenues were up by 24.9%, Asia Pacific increased by 19.4% and the Americas grew by 6.4%.

Capex was $365 million for Q3, and $891 million for the first nine months.

ST’s net financial position was $446 million on September 30 compared to $524 million on July 1, with total financial resources of $2.62 billion and debt of $2.18 billion.