STMicroelectronics has announced its preliminary and unaudited net revenues for the fourth quarter ended December 31, 2020, are above the business outlook range provided in the Company’s news release dated October 22, 2020.
Preliminary Q420 net revenues are $3.24 billion, up 21.3% sequentially and 580 basis points above the high end of the range. The prior outlook was for Q420 net revenues to be $2.99 billion, an increase of 12.0% sequentially, plus or minus 350 basis points.
“We ended Q420 with net revenues above the outlook range due to significantly better than expected market dynamics throughout the quarter. Our engaged customer programs in Personal Electronics, as well as continuous acceleration in demand especially of automotive products and microcontrollers, were the main factors that contributed to this result. Our FY20 revenues reached $10.22 billion, an increase of 6.9% compared to FY19. I look forward to providing additional details on the fourth quarter and full-year 2020 as well as on our first quarter 2021 guidance during our earnings call on January 28, 2021” said Jean-Marc Chery, STMicroelectronics President and CEO.
The Company will release its fourth quarter and full-year 2020 earnings before the opening of trading on the European Stock Exchanges on Thursday, January 28, 2021.
STMicroelectronics will conduct a conference call with analysts, investors and reporters to discuss its fourth quarter and full-year 2020 financial results and current business outlook on January 28, 2021, at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET).