STMicroelectronics sees strong than expected revenues for Q4, boosted by personal electronics, automotive

News General Global 8 JAN 2021
STMicroelectronics sees strong than expected revenues for Q4, boosted by personal electronics, automotive

STMicroelectronics said preliminary results show revenues went higher than expected in the fourth quarter, rising 21.3 percent sequentially to USD 3.24 billion. The company had guided for USD 2.99 billion after reporting third quarter figures of USD 2.66 billion and revenues the year before of USD 2.75 billion.

CEO Jean-Marc Chery said sales were boosted by stronger than forecast market dynamics throughout the quarter, boosted in particular by engaged customer programmes in Personal Electronics, and a continuing higher demand for Automotive products and microcontrollers.

Revenues for the full year reached USD 10.22 billion, up 6.9 percent from the y ear earlier. STMicroelectronics will report its full results on 28 January.

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