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Benzinga
Benzinga
Business
Anusuya Lahiri

STMicroelectronics Shares Gain On Better Than Expected Q4, FY21 Preliminary Results

  • STMicroelectronics NV (NYSE:STM) reported preliminary fourth-quarter FY21 net revenues of $3.56 billion, up 11.2% quarter-on-quarter, and 140 bps above the high end of its outlook range. Analysts predict the company to report revenues of $3.41 billion.
  • The prior view for Q421 net revenues was $3.40 billion, up 6.3% Q/Q, plus or minus 350 bps.
  • "We ended Q421 with net revenues above the outlook range and gross margin at or slightly above the high-end of the outlook range, primarily due to better than anticipated operations in an ongoing dynamic market," said CEO Jean-Marc Chery.
  • Related Content: STMicroelectronics Clocks 20% Revenue Growth In Q3, Expands Margins, Issues Positive Outlook
  • The FY21 revenues reached $12.76 billion, up 24.9% Y/Y, reflecting a solid performance across all the end markets addressed and its engaged customer programs throughout the year.
  • STMicroelectronics looks to provide additional details on Q4 FY21, FY21 and Q1 FY22 guidance during its earnings call on January 27.
  • Price Action: STM shares traded higher by 4.34% at $51.25 in the premarket session on the last check Friday.
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