Quarterly net profit of STMicroelectronics increased 56 times
A major European semiconductor manufacturer STMicroelectronics is also reported for the fourth quarter of 2016 financial year and the whole year.
In the final quarter, revenues amounted to 1.86 billion dollars, increasing by 11.5%. Operating profit showed growth of more than five times, reaching 129 million. Net profit for the quarter amounted to 112 million against only $ 2 million a year earlier, that is, increased in 56 times.
For the year the manufacturer was rescued 6,973 billion $ 6,897 billion in 2015. Operating profit increased from 109 to 214 million dollars, and net — 104 to $ 165 million.
The manufacturer explains these figures by sales growth in the smartphone market and in the automotive segment, as well as increased the workload of the factories.