Home Tech News Fourth-Quarter STMicroelectronics Revenue Increase

Fourth-Quarter STMicroelectronics Revenue Increase


Despite challenging economic conditions, European chipmaker STMicroelectronics topped fourth-quarter sales projections on Thursday because of solid demand from customers.

After increasing from the previous quarter’s $4.32 billion to $4.42 billion, net revenue shows continued growth. IBES data from Refinitiv Eikon indicated that analysts, on average, anticipated sales of $4.32 billion.

STMicro achieved its annual revenue target of $16.1 billion, with major customers including iPhone manufacturer Apple and electric vehicle Tesla.

IBES statistics show that the company’s diluted profits per share in the fourth quarter of 2017 were $1.32, which was higher than the average analyst forecast of $1.09.

Texas Instruments, a competitor, issued a revenue and profit estimate for the first quarter on Wednesday that fell short of Wall Street expectations.

According to STMicro CEO Jean-Marc Chery, the company’s sales were boosted by demand from the automotive and industrial markets.

Chery has projected full-year sales between $16.8 billion and $17.8 billion, citing rising demand and expanded production capabilities.

The company’s 2027 sales goal was $20 billion. STMicro spent $3.52 billion on capex in 2022 and intended to spend $4 billion this year to improve production capacity. Net profits increased 12% to $1.25 billion.

Read More Articles Here
Previous articleAMD EXPO Certified DDR5 joins Kingston FURY lineup
Next articleThe Five Best To-Do List App in 2023
Mabuhay Manila, Edmar Consular here! I studied Adobe Photoshop Short Courses in addition to my academic career in Automotive Technology. Here at Manila Shaker, I'm the Junior Editor in charge of writing article reviews, tech news, and video scripts.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.