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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