STMicroelectronics Reports 2021 Third Quarter Financial Results

STMicroelectronics Reports 2021 Third Quarter Financial Results

  • Q 3 net revenues $ 3.20 billion; gross margin 4 1 . 6 %; operating margin 1 8.9 % ; net income $ 474 million
  • YTD net revenues $ 9.20 billion; gross margin 40.4 %; operating margin 1 6.7 %; net income $ 1.25 b illion
  • B usiness outlook at the mid-point: Q 4 net revenues of $ 3.40 billion and gross margin of 43.0 %

Geneva, October 2 8 , 202 1 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the third quarter ended October 2, 2021. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported third quarter net revenues of $3.20 billion, gross margin of 41.6%, operating margin of 18.9%, and net income of $474 million or $0.51 diluted earnings per share.

Jean-Marc Chery, STMicroelectronics President & CEO, commented:

  • Q3 net revenues came in substantially at the mid - point of our business outlook range , up 6.9% sequentially and up 19.9% on a year-over-year basis. Th e revenue performance was driven by strong global demand and by our engaged customer programs in Personal Electronic s . This was partially offset by lower than expected revenues in Automotive, caused by more severe than anticipated reduced operations at our Malaysian manufacturing facility due to the pandemic.
  • Q3 gross margin of 41.6% came in 60 basis points higher than the mid-point. On a year-over-year basis , Q 3 operating margin of 18.9% improved from 12.3%, and net income nearly doubled to $474 million .
  • F irst nine months net revenues increase d 31 .8 % year-over-year , driven by growth in all product groups , except the RF Communications sub-group . O perating margin was 1 6.7 % and net income $ 1.25 b illion.
  • ST’s fourth quarter outlook, at the mid-point, is for net revenues of $ 3.40 billion, increasing s equentially by 6.3 % ; gross margin is expected to be about 4 3.0 % .
  • For the full year 20 21 , we now expect net revenues at the mid-point to be about $ 12.6 billion , translating into 23.3 % year-over-year growth . The revenue growth planned for this year reflects continuing strong dynamics in all the end markets we address and our engaged customer programs.

Quarterly Financial Summary (U.S. GAAP)

(US$ m, except per share data) Q 3 202 1 Q 2 20 2 1 Q 3 20 20 Q/Q Y/Y
Net Revenues $3,197 $2,992 $2, 666 6.9 % 19.9 %
Gross Profit$1,330 $1,212 $959 9.8% 38.7%
Gross Margin 41.6% 40.5% 36.0% 110 bps 560 bps
Operating Income $605 $489 $329 23.9% 84.0%
Operating Margin 18.9% 16.3% 12.3 % 260 bps 660 bps
Net Income $474 $412 $242 15.1% 95.6%
Diluted Earnings Per Share $0.51 $0.44 $0.26 15.9 % 96. 2 %

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Upcoming Events
SEMICON Japan 2024 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2024
PDF Solutions AI Executive Conference at St. Regis Hotel San Francisco - Dec 12, 2024
DVCon U.S. 2025 at United States - Feb 24 - 27, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise