GENEVA (AP) _ STMicroelectronics NV (STM) on Wednesday reported second-quarter profit of $23 million.
The Geneva-based company said it had profit of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.
The chip company posted revenue of $1.7 billion in the period, which also matched Street forecasts.
STMicroelectronics shares have declined nearly 2 percent since the beginning of the year. The stock has decreased 15 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STM at http://www.zacks.com/ap/STM
Keywords: STMicroelectronics, Earnings Report
Automated Insights, source Associated Press News