STMicroelectronics Q3 revenues rise 2.5% year-on-year

▤ Summary

Jean-Marc Chery (pictured), ST President & CEO, commented: “First nine months net revenues increased 11.1% year-over-year, driven by growth in ADG and MDG Product Groups, partially offset by a decline of AMS Product Group. Operating margin was 27.6% and net incomewas $3.14 billion.” “Our fourth quarter business outlook,at the mid-point,is for net revenues of $4.30 billion,declining year-over- year and sequentially by about 3%; gross margin is expected to be about 46%,” added Chery. “The midpoint of this outlook translates into full year 2023 revenues of about $17.3 billion, representing 7.3% year-over-year growth and a gross margin of about48.1%.” Net income for Q3 was $1.09 billion, up 8.9% sequentially and flat year-on-year. ST’s Automotive and Discrete Group revenues rocketed 29.6% year-on-year to $2.02 billion revenues, and advanced sequentially by 3.6%. Analogue, MEMs and Sensors Group sales fell 28.3% to $990 million in Q3, rising sequentially 5.3%.

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