European chipmaker STMicroelectronics recently announced the first quarter of this year’s financial results. According to the report, STMicroelectronics reported revenue of $4.25 billion in the first quarter of this year, up 19.8% year-over-year; gross margin of 49.7%, operating margin of 28.3% and net profit of $1.04 billion. After net capital expenditures of $1.09 billion, free cash flow in the first quarter was $206 million.
ST said that actual revenue for the first quarter was 170 basis points above the median business outlook, thanks to a favorable product mix and pricing environment. In addition, STMicroelectronics expects second-quarter net revenue to reach a median of $4.28 billion, an increase of about 11.5% year over year and an improvement of about 0.8% sequentially, with gross margin expected to be 49% and will aim to achieve its full-year revenue target of $17 billion to $17.8 billion in 2023.
ST’s official WeChat public number that ST’s Q1 results by product group division are as follows:
Automotive Products and Discrete Devices Product Group (ADG).
Growth in sales revenue from automotive products and power discrete devices.
Operating profit increased 145.3% year-on-year to a total of $577.4 million. Operating profit margin of 32.0% compared to 18.7% in the same period last year.
Analog Devices, MEMS and Sensor Products Division (AMS):
Growth in revenue from sales of imaging products; declines in analog and MEMS products;
Operating profit of $217.9 million, down 11.6% year-over-year. Operating margin 20.4%, compared to 22.9% in the prior year period.
Microcontroller and Digital IC Products Group (MDG):
Revenue growth in microcontroller and RF communications products.
Operating profit increased 21.7% to $494.7 million. Operating profit margin of 36.2% , compared with 33.7% in the same period last year.
