The European chipmaker STMicroelectronics announced its fourth-quarter financial report. Despite the challenging economic situation, it benefited from strong customer demand and revenue data exceeded expectations.
According to the financial report, STMicroelectronics’ net revenue in the fourth quarter of 2022 increased from US$4.32 billion in the previous quarter (currently about 29.29 billion RMB) to US$4.42 billion (currently about 29.968 billion RMB), a year-on-year increase of 24.4%. An increase of 2.4%. Analysts on average expected revenue of $4.32 billion, according to IBES data from Refinitiv Eikon.
Q4 net profit under the GAAP standard was US$1.248 billion (currently approximately RMB 8.461 billion), a year-on-year increase of 66.4% and a quarter-on-quarter increase of 13.5%; the diluted earnings per share under the GAAP standard was US$1.32, which was higher than the average analyst expectation $1.09, compared with $0.82 in the same period last year and $1.16 in the previous quarter.
STMicroelectronics’ largest customers include iPhone maker Apple and electric car maker Tesla. From the full year of 2022, STMicroelectronics’ revenue reached 16.1 billion U.S. dollars (currently about 109.158 billion RMB).
According to the division of product group departments, STMicroelectronics Q4 performance of each department is as follows:
The revenue of the Automotive Products and Discrete Components Division (ADG) was US$1.696 billion (currently approximately RMB 11.499 billion), a year-on-year increase of 38.4% and a quarter-on-quarter increase of 8.5%.
The revenue of the Analog Devices, MEMS and Sensors Division (AMS) was US$1.339 billion (currently approximately RMB 9.078 billion), a year-on-year increase of 7% and a quarter-on-quarter decrease of 3%.
The single-chip and digital IC department (MDG) revenue was 1.383 billion US dollars (currently about 9.377 billion RMB), a year-on-year increase of 29.1% and a month-on-month increase of 0.7%.
Revenue from other departments was US$6 million (currently approximately RMB 40.68 million), compared to US$8 million in the same period last year.
STMicroelectronics CEO Jean-Marc Chery said sales were boosted by strong demand from automotive and industrial customers. The company expects full-year 2023 revenue to be in the range of $16.8 billion to $17.8 billion due to strong demand and increased manufacturing capacity.
The company had previously targeted $20 billion in annual revenue by 2027.
