ST’s first quarter financial results
31 May 2023
News
STMicroelectronics has reported its first quarter financial results, ending 1 April 2023. The company reported net revenues of $4,25 billion, a gross margin of 49,7%, an operating margin of 28,3%, and net income of $1,04 billion. ST’s cash flow was $206 million after net capital expenditure payments of $1,09 billion.
Jean-Marc Chery, STMicroelectronics president and CEO, commented:
• “Q1 net revenues of $4,25 billion came in better than expected in Automotive and Industrial, partially offset by lower revenues in Personal Electronics.”
• “Q1 gross margin of 49,7% was 170 basis points above the mid-point of our business outlook range mainly due to product mix in a price environment that remained favourable.”
• “On a year-on-year basis, Q1 net revenues increased 19,8%, operating margin increased to 28,3% from 24,7%, and net income increased 39,8% to $1,04 billion.”
• “Our second quarter business outlook, at the mid-point, is for net revenues of $4,28 billion, increasing year-on-year by 11,5%, and increasing sequentially by 0,8%; gross margin is expected to be about 49,0%.”
• “We will now drive the company based on a plan for FY23 revenues in the range of $17,0 billion to $17,8 billion.”
Further reading:
From the Editor's desk: Growth through inclusivity
Technews Publishing
News
As the engineering fields in South Africa continue to make progress toward gender equality, we are finally starting to see the presence and contribution of women in engineering and industrial roles.
Read more...
KITE 2025 proves its value
News
The KwaZulu-Natal Industrial Technology Exhibition (KITE) 2025 confirmed its place as KwaZulu-Natal’s must-attend industrial event, drawing thousands of industry professionals.
Read more...
Otto Wireless Solutions announces promotion of Miyelani Kubayi to technical director
Otto Wireless Solutions
News
Otto Wireless Solutions is proud to announce the promotion of Miyelani Kubayi to the position of technical director, effective 1 August 2025.
Read more...
DMASS experiences continued slowdown
News
The European electronic components distribution market continued its downward trajectory in the second quarter of 2025, according to new figures released by DMASS.
Read more...
World-first zero second grid-to-backup power switch
News
JSE-listed cable manufacturer, South Ocean Electric Wire, has completed a solar installation it says marks a global first: a seamless switch from grid to backup power in zero seconds.
Read more...
News
OMC deploys cobots to improve throughput 10x, while maintaining quality and ensuring consistency of fibre optic production.
Read more...
Cobots for opto production line
News
OMC deploys cobots to improve throughput 10x, while maintaining quality and ensuring consistency of fibre optic production.
Read more...
SACEEC celebrates standout industrial innovation on the KITE 2025 show floor
News
Exhibitor innovation took the spotlight at the KITE 2025 as the South African Capital Equipment Export Council announced the winners of its prestigious New Product & Innovation Awards.
Read more...
SA team for International Olympiad in Informatics
News
The Institute of Information Technology Professionals South Africa has named the team that will represent South Africa at this year’s International Olympiad in Informatics.
Read more...
Anritsu and Bluetest to support OTA measurement
News
Anritsu Company and Sweden-based Bluetest AB have jointly developed an Over-The-Air measurement solution to evaluate the performance of 5G IoT devices compliant with the RedCap specification.
Read more...
printer friendly version