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)

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