ST reports second quarter results

30 August 2023 News

STMicroelectronics has released its healthy second quarter 2023 financial results. The company reported a Q2 2023 net revenue of $4,33 billion, up 12,7% YoY. Gross profit increased by 16,5% over the same period to $2,11 billion, with a gross margin of 49,0%.

The company’s operating income increased 14,2% to total $1,15 billion, compared to $1,00 billion in 2Q 2022. In the second quarter 2023, net operating expenses included negative non-recurring non-cash items amounting to $34 million.

Compared with the year-ago quarter, the following product group results were reported. Revenue increased for both automotive and power discrete with operating profit increasing by 73,8% to $624 million. The Microcontrollers and Digital ICs group also saw a revenue increase by 19% to $505 million. However, revenue in the Analog, MEMS and Sensors group decreased by 48,3%, to a total of $139 million.

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