PR No: C3108C
STMicroelectronics Reports 202 2 Second Quarter Financial Results
- Q 2 net revenues $ 3.84 billion; gross margin 47.4 %; operating margin 26.2 %; net income $ 867 million
- H1 net revenues $ 7.3 8 billion; gross margin 47.1 %; operating margin 25.5 %; net income $ 1 . 61 b illion
-
B
usiness outlook at
the
mid-point:
Q
3
net
revenues
of
$
4.
24
billion and gross margin of
47.0
%
Geneva, July 28 , 202 2 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the second quarter ended July 2, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).
ST reported second quarter net revenues of $3.84 billion, gross margin of 47.4%, operating margin of 26.2%, and net income of $867 million or $0.92 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
- “ Q 2 net revenues and gross margin came in above the mid-point of our business outlook range driven by continued strong demand for our product portfolio .
- “ On a year-over-year basis, Q 2 net revenues increased 28.3 %, o perating m argin increased to 2 6.2 % from 16 .3 % and net income doubled to $ 867 million.
- “First half net revenues increased 22.9% year-over-year, driven by growth in all product groups and sub-groups. Operating margin was 25.5% and net income was $1.61 billion.
- “ ST’s third quarter outlook, at the mid-point, is for net revenues of $ 4. 24 billion, increasing year-over-year by 3 2.6 % and sequentially by 1 0.5 % ; gross margin is expected to be about 47.0 % .
-
“
W
e
will now
drive the Company based on a plan for FY22 revenues in the range of $
15.
9
billion to $
16.
2
billion
and
gross margin
to be
about
47.0
%
.
”
Quarterly Financial Summary (U.S. GAAP)
| (US$ m, except per share data) | Q 2 202 2 | Q 1 202 2 | Q 2 20 2 1 | Q/Q | Y/Y |
| Net Revenues | $3,83 7 | $3,546 | $2,992 | 8.2 % | 28.3 % |
| Gross Profit | $1,819 | $1,655 | $1,212 | 10.0% | 50.2% |
| Gross Margin | 47.4% | 46.7% | 40.5% | 70 bps | 690 bps |
| Operating Income | $1,004 | $877 | $489 | 14.4% | 105.4% |
| Operating Margin | 26.2% | 24.7% | 16.3% | 150 bps | 990 bps |
| Net Income (a) | $867 | $747 | $412 | 16.1% | 110.4% |
| Diluted Earnings Per Share ( b ) | $ 0.92 | $0.79 | $0.44 | 16.5 % | 109.1 % |
<
