STMicro nearly doubles quarterly profit, sees Q4 sales exceeding $4 billion

By Nathan Vifflin and Fabrizio La Rocca Oct 29 (Reuters) STMicroelectronics reported a third-quarter operating profit above market expectations on Thursday, as demand from AI data ​centres and satellite operators added to a broader recovery ‌in the chipmaker s markets. Operating income excluding one-off charges was $429 million, nearly doubling from a year ago and beating the $400.5 million expected by analysts polled by LSEG. The Franco-Italian chipmaker said it expected fourth-quarter revenue of $4.15 ‌billion, ​up from $3.76 billion in the third ⁠quarter, give or take ⁠3.5%. Analysts polled by LSEG had expected $4.10 billion. In an environment where demand remains well above supply, we continue to expand capacity aligned with ST s strategic roadmap, CEO Jean-Marc Chery ​said in the earnings statement. STMicro, which makes chips ranging from microcontrollers to sensors and power semiconductors for cars, ⁠factories and smartphones, said higher sales ⁠of communication equipment, co