STMicroelectronics reported financial results for the second quarter and six months ended 1 July.

Net revenues for the second quarter were $2,495 million, 15.4 per cent above the $2,162 million reported in last year’s second quarter. This year-over-year growth was driven by double-digit increases in telecom, notably wireless, computer, and the industrial market segments.

Sequentially, net revenues grew 5.6 per cent from the $2,364 million reported in the prior quarter. This sequential sales growth performance was broad based, led by the industrial market segment, which increased at a double-digit rate.

Gross profit was $882 million for the 2006 second quarter, an increase of $168 million from $714 million in last year’s second quarter. Gross margin was 35.4 per cent in the second quarter, an increase of 240 basis points from 33.0 per cent in last year’s second quarter. On a sequential basis, gross profit increased from the first quarter level of $837 million with the gross margin unchanged at 35.4 per cent.