STMicroelectronics has declared that its preliminary and unaudited net revenues for the fourth quarter ended December 31, 2021, are above the business outlook range.
Preliminary Q421 net revenues are $3.56 billion, up 11.2% sequentially and 140 basis points above the high end of the range.
“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. Our FY21 revenues reached $12.76 billion, an increase of 24.9% compared to FY20, reflecting a strong performance across all the end markets we address and our engaged customer programs throughout the year. I look forward to providing additional details on the fourth quarter and full-year 2021 as well as on our first quarter 2022 guidance during our earnings call on January 27, 2022” said Jean-Marc Chery, STMicroelectronics’ President and CEO.
The prior outlook was for Q421 net revenues to be $3.40 billion, an increase of 6.3% sequentially, plus or minus 350 basis points.
The Company will release its fourth quarter and full-year 2021 earnings before the opening of trading on the European Stock Exchanges on Thursday, January 27, 2022.