STMicroelectronics 1Q Earnings, Revenue Rose
27 Abril 2022 - 2:59AM
Dow Jones News
By Cecilia Butini
STMicroelectronics NV on Wednesday posted higher earnings and
revenue for the first quarter, driven by microcontrollers
demand.
The European chip maker reported net profit of $747 million,
more than double the year-prior figure, which was $364 million, on
net revenue of $3.55 billion, which rose from $3.02 billion the
year prior.
Gross profit rose to $1.66 billion from $1.18 billion in the
first quarter of 2021, the company said. Operating income rose
sharply to $877 million from $440 million the year prior. Gross
margin was 46.7%, up from 39% the year prior.
The company said revenue performance was driven by strong demand
for microcontrollers, which was partially offset by temporarily
reduced operation at its Shenzhen, China, plant due to the
coronavirus pandemic.
Looking ahead, STMicroelectronics said it expects second-quarter
revenue of $3.75 billion and gross margin of 46%. For the full
year, the company said it continues to plan around revenue in the
range of $14.8 billion to $15.3 billion.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 27, 2022 01:44 ET (05:44 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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