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

STMicroelectronics NV 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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