ST reported 3Q18 revenues of $2.52 billion, up 18.1 percent compared with the same quarter a year before, and net income of $369 million, up 56.7 percent year on year.

In a statement Jean-Marc Chery, STMicroelectronics CEO, attributed the overall increase to strong growth in sales of imaging, power discrete and automotive components and said that the fourth quarter revenue was expected grow 5.7 sequentially. “Based on our fourth quarter guidance, we anticipate 2018 revenues to grow about 16 percent year-over-year, in line with our expectations shared in May at our Capital Markets Day,” he said in the statement.

The Analog, MEMS and Sensors (AMS) business unit had 3Q18 revenue of $899 million, up 36.7 percent compared with the same quarter a year before, and up 46.6 percent on a sequential basis. ST stated that imaging component revenue grew triple-digits supported by strong sales in both analog and MEMS. This imaging sales are thought to be partly into smartphones and related to facial recognition systems.

The Automotive and Discrete Group (ADG) revenue was $901 million, up 16.3 percent on an annual basis and sales of microcontrollers and digital ICs were $719 million, up by 2.5 percent on the same basis.

ST’s net financial position was $447 million at September 29, 2018 compared to $411 million at June 30, 2018 and reflected total financial resources of $2.17 billion and total financial debt of $1.72 billion.

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