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.
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