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STMicroelectronics Reports 2020 3Q Financial Results

Q3 2020 net revenues are $2.67 billion, with gross margin of 36,% net income of $242 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

STMicroelectronics reported US GAAP financial results for the third quarter ended Sept. 26, 2020.

 

ST reported third quarter net revenues of $2.67 billion, gross margin of 36%, operating margin of 12.3%, and net income of $242 million or $0.26 diluted earnings per share.

 

“Looking at the fourth quarter, we expect sequential revenue growth of about 12.% at the mid-point,” said Jean-Marc Chery, STMicroelectronics president and CEO. “All product groups are expected to grow, except the RF Communications sub-group. Our gross margin is expected to be about 38.5%, including about 70 basis points of unsaturation charges.

 

“For the full year 2020, we now expect net revenues at the mid-point to be about $9.97 billion, translating into 4.3% year-over-year growth, with a double-digit operating margin performance,” added Chery.

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