STMicroelectronics Reports Q4 and FY 2023 Financial Results

Fourth Quarter 2023 Summary Review

Net Revenues By Product Group (US$ m) Q4 2023 Q3 2023 Q4 2022 Q/Q Y/Y
Automotive and Discrete Group (ADG) 2,060 2,025 1,696 1.7% 21.5%
Analog, MEMS and Sensors Group (AMS) 993 990 1,339 0.4% -25.8%
Microcontrollers and Digital ICs Group (MDG) 1,225 1,412 1,383 -13.3% -11.5%
Others 4 4 6 - -
Total Net Revenues $4,282 4,431 4,424 -3.4% -3.2%

Net revenues totaled $4.28 billion, representing a year-over-year decrease of 3.2%. On a year-over-year basis, ADG revenues increased 21.5%, while AMS and MDG decreased 25.8% and 11.5% respectively. Year-over-year net sales to OEMs and Distribution decreased 0.4% and 9.2%, respectively. On a sequential basis, net revenues decreased 3.4%, 40 basis points lower than the mid-point of ST’s guidance. On a sequential basis, ADG reported an increase in net revenues, AMS was stable and MDG decreased.

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