STMicroelectronics Reports 2024 Third Quarter Financial Results

Third Quarter 2024 Summary Review

Reminder: On January 10, 2024, ST announced a new organization which implied a change in segment reporting starting Q1 2024. Prior year comparative periods have been adjusted accordingly. See Appendix for more detail.

Net Revenues by Reportable Segment (US$ m) Q3 2024 Q2 2024 Q3 2023 Q/Q Y/Y
Analog products, MEMS and Sensors (AM&S) segment 1,185 1,165 1,367 1.7% -13.3%
Power and discrete products (P&D) segment 807 747 989 7.9% -18.4%
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group 1,992 1,912 2,356 4.2% -15.5%
Microcontrollers (MCU) segment 829 800 1,466 3.6% -43.4%
Digital ICs and RF Products (D&RF) segment 426 516 605 -17.4% -29.7%
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group 1,255 1,316 2,071 -4.6% -39.4%
Others 4 4 4 - -
Total Net Revenues 3,251 3,232 4,431 0.6% -26.6%

Net revenues totaled $3.25 billion, representing a year-over-year decrease of 26.6%. Year-over-year net sales to OEMs and Distribution decreased 17.5% and 45.4%, respectively. On a sequential basis, net revenues increased 0.6%, in line with the mid-point of ST’s guidance.

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