STMicroelectronics Reports 2020 Third Quarter Financial Results

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 September 26, 2020. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported third quarter net revenues of $2.67 billion, gross margin of 36.0%, operating margin of 12.3%, and net income of $242 million or $0.26 diluted earnings per share.

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

·         “As we announced on October 1, 2020, our Q320 net revenues increased 27.8% sequentially, coming in 690 basis points above the high end of our outlook range. This revenue performance was due to significantly better than expected market conditions throughout the quarter. Demand for Automotive products, our engaged customer programs in Personal Electronics, as well as Microcontrollers, were the main factors that contributed to this result. Third quarter gross margin came in at the mid-point of our range, and includes about 140 basis points of unsaturation charges.

·         “Looking at the fourth quarter, we expect sequential revenue growth of about 12.0% at the mid-point. All product groups are expected to grow, except the RF Communications sub-group. Our gross margin is expected to be about 38.5%, including about 70 basis points of unsaturation charges.

·         “For the full year 2020, we now expect net revenues at the mid-point to be about $9.97 billion, translating into 4.3% year-over-year growth, with a double-digit operating margin performance.”

Further information can be found at www.st.com

SHARE
Previous articleHealthcare sector and Security Concerns
Next articleStretchable Conductors in Electronics Market Forecast By End-use Industry 2018-2028
ELE Times provides a comprehensive global coverage of Electronics, Technology and the Market. In addition to providing in depth articles, ELE Times attracts the industry’s largest, qualified and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build awareness, drive traffic, communicate your offerings to right audience, generate leads and sell your products better.

LEAVE A REPLY