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Q4 net revenues $4.42 billion; gross margin 47.5%; operating margin 29.1%; net income $1.25 billion
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FY net revenues $16.13 billion; gross margin 47.3%; operating margin 27.5%; net income $3.96 billion
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Business outlook at mid-point: Q1 net revenues of $4.20 billion and gross margin of 48.0%
STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across
the spectrum of electronics applications reported U.S. GAAP financial results for the fourth quarter that ended December 31, 2022.
ST reported fourth-quarter net revenues of $4.42 billion, a gross margin of 47.5%, an operating margin of 29.1%, and a net income of $1.25 billion or $1.32 diluted earnings per share.
Jean-Marc Chery, STMicroelectronics President & CEO, commented:
• “In Q4, ST delivered revenues and gross margin above the mid-point of the guidance.
• “FY22 revenues increased 26.4% to $16.13 billion, driven by strong demand in automotive and industrial, and our engaged customer programs. Operating margin increased to 27.5% from 19.0% in FY21 and net income almost doubled to $3.96 billion. We invested $3.52 billion in CAPEX while delivering free cash flow of $1.59 billion.
• “Our first quarter business outlook, at the mid-point, is for net revenues of $4.20 billion, increasing year-overyear by 18.5% and decreasing sequentially by 5.1%; gross margin is expected to be about 48.0%.
• “For 2023, we plan to invest about $4.0 billion in CAPEX, mainly to increase our 300mm wafer fabs and silicon carbide manufacturing capacity including our substrate initiative.
• “Based on our strong customer demand and increased manufacturing capacity, we will drive the Company based on a plan for FY23 revenues in the range of $16.8 billion to $17.8 billion.”
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