By Mauro Orru 
 

STMicroelectronics NV (STM.FR) said Thursday that net profit for the fourth quarter fell year-on-year, while revenue rose amid higher sales.

The European semiconductor chip maker said net profit fell 6.2% year-on-year to $392 million, with revenue increasing 4% to $2.75 billion.

Gross margin fell to 39.3% from 40% a year earlier, the company said, adding that it plans to invest roughly $1.5 billion in capex for 2020.

"Our 2019 financial performance, with net revenues of $9.56 billion and an operating margin of 12.6%, is aligned with the full-year expectations we provided in April 2019," said Jean-Marc Chery, STMicroelectronics president and chief executive.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

January 23, 2020 01:33 ET (06:33 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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