- STMicroelectronics NV STM reported second-quarter FY22 revenue growth of 28.3% year-on-year to $3.84 billion, beating the consensus of $3.75 billion.
- Sales to OEMs increased by 31.7% Y/Y, and Distribution sales improved by 22.2% Y/Y.
- Automotive and Discrete Group (ADG) revenue rose 35.1% Y/Y to $1.45 billion. Analog, MEMS, and Sensors Group (AMS) revenue increased by 11.3% Y/Y to $1.13 billion. Microcontrollers and Digital ICs Group (MDG) revenue grew 39.5% Y/Y to $1.25 billion.
- Margins: The gross margin expanded 690 bps to 47.4%. Improved product mix and favorable pricing drove the margin.
- The operating margin expanded by 990 bps to 26.2%.
- EPS of $0.92 beat the consensus of $0.80.
- STMicroelectronics generated $1.06 billion in operating cash flow and held $3.44 billion in cash and equivalents.
- Outlook: STMicroelectronics sees Q3 revenue at the mid-point of $4.24 billion, up 32.6% Y/Y.
- STMicroelectronics sees a Q3 gross margin of 47%.
- STMicroelectronics raised FY22 revenue outlook from $14.8 billion - $15.3 billion to $15.9 billion - $16.2 billion.
- Price Action: STM shares traded higher by 0.19% at $36.40 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in