STMicroelectronics: Q2 results at the top of forecasts

(CercleFinance.com) - On Thursday STMicroelectronics reported Q2 revenues and a gross margin that are at the top end of its guidance range, driven by continued "solid" demand.


The semiconductor maker's net sales rose 43.4% year-on-year to almost three billion euros, while its gross margin was 40.5%, up 550 basis points.

Meanwhile, net income reached 412 million euros over the period, up from 90 million euros a year earlier.

For Q3, ST said that it is targeting net sales of 3.2 billion dollars, up 20% y-o-y, with an expected gross margin of around 41%.


Copyright (c) 2021 CercleFinance.com. All rights reserved.