STMicroelectronics Preliminary Q420 Net Revenue Stands At $3.24 Billion

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  • 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
  • The prior outlook was for Q420 net revenues to be $2.99 billion, an increase of 12.0 per cent sequentially, plus or minus 350 basis points

STMicroelectronics preliminary fourth quarter ended December 31, 2020 net revenues stood at $3.24 billion, up 21.3 per cent 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 per cent sequentially, plus or minus 350 basis points.

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.

Better than expected market dynamics throughout the quarter

Jean-Marc Chery, STMicroelectronics’ President and CEO said, “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 per cent 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.

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