PR No: C3108C

STMicroelectronics Reports 202 2 Second Quarter Financial Results

• Q 2 net revenues $ 3.84 billion; gross margin 47.4 %; operating margin 26.2 %; net income $ 867 million
• H1 net revenues $ 7.3 8 billion; gross margin 47.1 %; operating margin 25.5 %; net income $ 1 . 61 b illion
• B usiness outlook at the mid-point: Q 3 net revenues of $ 4. 24 billion and gross margin of 47.0 %
  
  

Geneva, July 28 , 202 2 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the second quarter ended July 2, 2022. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported second quarter net revenues of $3.84 billion, gross margin of 47.4%, operating margin of 26.2%, and net income of $867 million or $0.92 diluted earnings per share.

Jean-Marc Chery, STMicroelectronics President & CEO, commented:

• “ Q 2 net revenues and gross margin came in above the mid-point of our business outlook range driven by continued strong demand for our product portfolio .
• “ On a year-over-year basis, Q 2 net revenues increased 28.3 %, o perating m argin increased to 2 6.2 % from 16 .3 % and net income doubled to $ 867 million.
• “First half net revenues increased 22.9% year-over-year, driven by growth in all product groups and sub-groups. Operating margin was 25.5% and net income was $1.61 billion.
• “ ST’s third quarter outlook, at the mid-point, is for net revenues of $ 4. 24 billion, increasing year-over-year by 3 2.6 % and sequentially by 1 0.5 % ; gross margin is expected to be about 47.0 % .
• “ W e will now drive the Company based on a plan for FY22 revenues in the range of $ 15. 9 billion to $ 16. 2 billion and gross margin to be about 47.0 % . ”
  
  

Quarterly Financial Summary (U.S. GAAP)

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