GENEVA (AP) _ STMicroelectronics NV (STM) on Thursday reported third-quarter net income of $242 million.

On a per-share basis, the Geneva-based company said it had net income of 26 cents.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The chip company posted revenue of $2.67 billion in the period.

STMicroelectronics shares have increased 27% since the beginning of the year. The stock has increased 60% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STM at https://www.zacks.com/ap/STM

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