Stefan Mileschin

Sales up by 11 per cent

Franco-Italian chipmaker STMicroelectronics said its preliminary fourth-quarter revenues were slightly above the guidance given at the end of October, in the context of a global microchip supply crunch, which gave a lift to its shares.

Sales for the last three months of 2021 increased by 11.2 per cent sequentially, coming in at $3.56 billion which was above a company forecast of $3.40 billion. Full year sales jumped by 24.9 per cent to $12.76 billion, also higher than STMicro's October 2021 forecast.

STMicroelectronics president and CEO Jean-Marc Chery said: "We ended the fourth quarter of 2021 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 reflect a strong performance across all the end markets we address and our engaged customer programs throughout the year", he added in a statement.

The global microchip shortage has forced automakers and electronics companies to cut production and bottlenecks in the chip industry are expected to affect output until 2023, several analysts have said.

https://fudzilla.com/news/54165-stmi...-than-expected