STMicroelectronics' revenue in the first quarter of 2024 was US$3.465 billion and its net profit was US$513 million

STMicroelectronics (ST) reported financial results for the first quarter of 2024, with net revenue of $3.465 billion, down 18.4% year-on-year. Net profit was $513 million, down 50.9% year-on-year. Although revenue from the automotive and industrial businesses declined, this was partially offset by an increase in revenue from the personal electronics business.