STMicroelectronics Reports 2023 Second Quarter Financial Results

Second Quarter 202 3 Summary Review

Net Revenues By Product Group (US$ m) Q 2 202 3 Q 1 202 3 Q 2 20 2 2 Q/Q Y/Y
Automotive and Discrete Group (ADG) 1,955 1,807 1,454 8.2% 34.4%
Analog, MEMS and Sensors Group (AMS) 940 1,068 1,115 -11.9% -15.7%
Microcontrollers and Digital ICs Group (MDG) 1,427 1,368 1,263 4.3% 13.0%
Others 4 4 5 - -
Total Net Revenues 4,326 4,247 3,837 1.9 % 12.7 %

Net revenues totaled $4.33 billion, representing a year-over-year increase of 12.7%. On a year-over-year basis, ADG and MDG revenues increased 34.4% and 13.0%, respectively, while AMS decreased 15.7%. Year-over-year net sales to OEMs and Distribution increased 9.8% and 18.3%, respectively. On a sequential basis, net revenues increased 1.9%, 110 basis points better than the mid-point of the Company’s guidance. ADG and MDG both reported an increase in net revenues on a sequential basis, while AMS decreased, as expected.

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