PR No: C3129C
STMicroelectronics Reports 202 2 Third Quarter Financial Results
- Q 3 net revenues $ 4.32 billion; gross margin 47.6 %; operating margin 29.4 %; net income $ 1.1 0 b illion
- YTD net revenues $ 11.70 billion; gross margin 47.3 %; operating margin 26.9 %; net income $ 2.71 b illion
-
Business outlook at the mid-point: Q
4
net revenues of
$
4.
40
billion and gross margin of
47.3
%
Geneva, October 2 7 , 202 2 - 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 1, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported third quarter net revenues of $4.32 billion, gross margin of 47.6%, operating margin of 29.4%, and net income of $1.10 billion or $1.16 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
- “ Q 3 net revenues of $4.32 billion and gross margin of 47.6% came in above the mid-point of our business outlook range , driven by continued strong demand for our product po rtfolio .
- “ On a year-over-year basis, Q 3 net revenues increased 35.2 %, o perating m argin increased to 2 9.4 % from 1 8.9 % , and net income more than doubled to $ 1.10 b illion.
- “First nine months net revenues increased 27. 2 % to $11.7 0 billion , driven by growth in all product groups and sub-groups. Operating margin was 26.9 % and net income was $ 2.71 billion.
- “ ST’s fourth quarter outlook, at the mid-point, is for net revenues of $ 4. 40 billion, increasing year-over-year by 23 .7 % and sequentially by 1.8 % ; gross margin is expected to be about 47.3 % .
-
“
The
midpoint of this outlook
translate
s
into
full year 2022
net revenues
of
about $
16.
10
billion,
representing a
2
6.2
% year-over-year growth and
gross margin
of
about
47.3
%
,
in line with
the plan we outlined in
July
.”
Quarterly Financial Summary (U.S. GAAP)
(US$ m, except per share data) | Q 3 202 2 | Q 2 202 2 | Q 3 20 2 1 | Q/Q | Y/Y |
Net Revenues | $ 4,321 | $3,837 | $3,197 | 12.6 % | 35.2 % |
Gross Profit | $2,059 | $1,819 | $1,330 | 13.2% | 54.7% |
Gross Margin | 47.6% | 47.4% | 41.6% | 20 bps | 600 bps |
Operating Income | $1,272 | $1,004 | $605 | 26.7% | 110.1% |
Operating Margin | 29.4 % | 26.2% | 18.9% | 320 bps | 1 , 050 bps |
Net Income (a) | $1,099 | $867 | $474 | 26.8% | 131.8% |
Diluted Earnings Per Share ( b ) | $ 1.16 | $ 0.92 | $0.51 | 26.1 % | 127.5 % |
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