STMicro's Q3 revenue view slightly lags estimates even as chip demand recovers

July 23 : STMicroelectronics forecast a third-quarter revenue with a midpoint slightly below market expectations on Thursday, but said chip demand from automotive, AI-related, data-centre optical and consumer electronics markets was recovering.The Franco-Italian chipmaker forecast third-quarter revenue of $3.70 billion, plus or minus 3.5 per cent, compared with analysts' average estimate of $3.72 billion, according to LSEG data."During the quarter demand increased further, with strong bookings in all end markets. We saw improved visibility and signs of tight supply in several product categories," STMicro CEO Jean-Marc Chery said in a statement."We anticipate a revenue growth acceleration in Q4, mainly driven by our engaged customer programs in AI datacenters and LEO satellite communication