ST’s 3Q financial report
23 November 2022
News
STMicroelectronics has reported a third quarter net revenue of $4,32 billion, a gross margin of 47,6% and an operating margin of 29,4%. This resulted in a net income of $1,1 billion or $1,16 diluted earnings per share (EPS).
Net revenues were up 12,6% from $3,83 billion in the second quarter and 35,2% YoY. This provided a net income increase of 131,8% over the same period last year.
This across-the-board increase in revenue was largely driven by the automotive and discrete group (ADG) with a 55,5% YoY increase, and the microcontrollers and digital ICs group (MDG) which saw an increase of 47,7% YoY. However, the biggest winner for the last quarter was the analog, MEMS and sensors group (AMS) with a net revenue increase of 23,7%.
Inventory at the end of the third quarter was $2,38 billion, compared to $1,97 billion in Q3 2021.
During the third quarter the company paid cash dividends to its stockholders totalling $55 million and executed an $86 million share buy-back as part of its current repurchase programme.
Business outlook for the fourth quarter of 2022 remains positive. Net revenues are expected to be $4,4 billion, an increase of 1,8% sequentially, with gross margin of 47,3% expected. This outlook, however, is based on the assumption that the effective currency exchange rate of approximately $1,03 = €1,00 for the fourth quarter remains.
Jean-Marc Chery, STMicroelectronics president & CEO, commented, “The midpoint of this outlook translates into full year 2022 net revenues of about $16,10 billion, representing a 26,2% year-over-year growth and gross margin of about 47,3%, in line with the plan we outlined in July.”
Further reading:
What’s new in Altium Designer
EDA Technologies
News
Altium has released a major update to its Altium Designer suite version 23.10, with many new features added.
Read more...
SIMCom Symposium 2024
Otto Wireless Solutions
News
Otto Wireless Solutions, in conjunction with SIMCom Wireless Solutions, will be hosting a free half-day seminar in Johannesburg – The SIMCom Symposium 2024.
Read more...
From the editor's desk: Exciting times ahead?
Technews Publishing
News
There are many subjects that excite me in this world, but two of the larger technical subjects are, firstly, renewable energy, and secondly, the idea of artificial intelligence as it continues to evolve
...
Read more...
Microchip expands partnership with TSMC
News
Microchip Technology has announced it has expanded its partnership with TSMC to enable a specialised 40 nm manufacturing capacity at Japan Advanced Semiconductor Manufacturing.
Read more...
Huge SA grid battery project
News
A standalone battery energy storage system (BESS) has won preferred bidder status under South Africa’s Energy Storage Capacity Independent Power Producer Procurement Programme (ESIPPPP).
Read more...
Mouser sponsors NCP Cup 2024
News
The NXP Cup is an EMEA-based autonomous car competition, presented by NXP Semiconductors, which is designed to provide students with real-world experiences in autonomous vehicle programming and building.
Read more...
TrinaTracker brings its smart solar tracking to SA
News
The Vanguard 1P is designed to provide customers with trackers that combine suitability for flat terrain, together with outstanding system stability and reliability, quick installation, and flexible external compatibility.
Read more...
Nordex adding 830 MW of wind generation
News
Nordex Energy South Africa will be adding 830 MW of wind energy generation capacity to the company’s already-installed 1 GW base.
Read more...
Invertek produces its three millionth drive
iTek Drives
News
Invertek Drives Ltd, a global manufacturer of variable frequency drive (VFD) technology, has celebrated producing its three millionth VFD, just three years after its two-million milestone.
Read more...
Analog Devices’ digital storefront is live
News
Analog Devices has designed an improved digital experience with users in mind – a new analog.com website and eShop.
Read more...
printer friendly version