STMicroelectronics 4Q Revenue Exceeded Target
07 Janeiro 2022 - 03:52AM
Dow Jones News
By Mauro Orru
STMicroelectronics NV said Friday that revenue climbed in the
fourth quarter amid a better-than-expected performance in what it
called a "dynamic market," taking its top-line above the high end
of guidance.
The European chip maker said preliminary figures showed revenue
jumped to $3.56 billion from $3.24 billion for the fourth quarter
of 2020.
The company had targeted revenue of $3.40 billion, plus or minus
350 basis points. The result means revenue is now 140 basis points
above the high end of the guided range.
"We ended 4Q21 with net revenues above the outlook range and
gross margin at or slightly above the high-end of the outlook
range, primarily due to better than anticipated operations in an
ongoing dynamic market," Chief Executive Jean-Marc Chery said.
STMicroelectronics will release fourth-quarter and 2021 results
on Jan. 27.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 07, 2022 01:37 ET (06:37 GMT)
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