STMicroelectronics Posts Higher Revenue Amid Strong Automotive Market Demand
26 10월 2023 - 2:52PM
Dow Jones News
By Mauro Orru
STMicroelectronics reported higher revenue for the third quarter
led by growth at its automotive division that offset weak sales at
its personal electronics business.
The European chip maker said on Thursday that net revenue
climbed 2.5% on year to $4.43 billion, with the company's
automotive business contributing $2.03 billion. Sales at its
personal electronics business fell 28% to $990 million.
Net profit slipped to $1.09 billion from $1.10 billion. Gross
profit--a closely watched metric by analysts and
investors--increased to $2.11 billion from $2.06 billion with a
gross margin of 47.6%, while operating income fell to $1.24 billion
from $1.27 billion with an operating margin of 28%.
STMicroelectronics had expected third-quarter net revenue of
$4.38 billion, and a gross margin of roughly 47.5%.
For the fourth quarter, the company is targeting net revenue of
$4.30 billion, and a gross margin of 46%.
For the year, STMicroelectronics is forecasting net revenue of
about $17.3 billion, and a gross margin of about 48.1%.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
October 26, 2023 01:37 ET (05:37 GMT)
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