STMicro Sales Outlook Beats Estimates on Chip Recovery

STMicroelectronics NV, a chip supplier for Tesla Inc. and Apple Inc., forecast first-quarter revenue that beat analysts’ estimates after demand from consumer electronics customers showed signs of recovery at the end of last year.

First-quarter revenue is expected to be $3.04 billion, the Franco-Italian chipmaker said in a statement on Thursday. That compares to the average analyst estimate of $2.92 billion, according to data compiled by Bloomberg.