STMicroelectronics sees sales growth momentum continuing in Q4

STMicroelectronics STMPA, on Thursday said that it expected sales to rise in the fourth quarter compared with the current quarter, showing evidence of a sustained recovery after a multi-year downturn in its main markets.

One of Europe's largest chipmakers, whose clients include Tesla TSLA and Apple AAPL, sees fourth quarter revenue reaching $3.28 billion, up from the $3,19 billion it reported this quarter.

Analysts polled by LSEG expected fourth quarter revenue at $3.34 billion, and $3.12 billion in the third quarter.