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STMicroelectronics (STM) shares rose 13% in Thursday trading after the company reported Q1 revenue that beat the Wall Street consensus.
Revenue in the three months ended March 28 rose to $3.1 billion from $2.52 billion a year earlier.
Analysts polled by FactSet expected $3.04 billion.
Non-GAAP earnings rose to $0.13 per diluted share from $0.07 per share a year earlier.
Analysts polled by FactSet expected $0.18.
The company expects Q2 revenue of $3.45 billion. Analysts polled by FactSet project $3.16 billion.
Price: $50.58, Change: $+5.72, Percent Change: +12.75%