STMicroelectronics increased its turnover slightly in the fourth quarter compared to a year earlier. The French-Italian chip maker did make a lower profit in the books. CEO Jean-Marc Chéry speaks of “solid quarter”. For the whole of 2019, STMicroelectronics met the self-declared expectations.

In the last three months of last year, STMicro sold for just under 2.8 billion dollars to semiconductors. That was just over $ 2.6 billion in the last quarter of 2018. Profit in the fourth quarter amounted to $ 392 million, a decrease of 6.2 percent on an annual basis. This was partly due to higher costs and price pressure.

For the whole of 2019, revenue fell by 1.1 percent from a year earlier to just under $ 9.6 billion, mainly due to a decline in the branch manufacturing products for the automotive industry. Profit went down by almost a fifth to more than 1 billion dollars.

STMicro wants to invest 1.5 billion in strategic initiatives this year. With this, the company wants to grow revenue. The chip maker has set itself the goal of raising annual sales to 12 billion dollars in the medium term.

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