STMicroelectronics revenues increased in the first quarter

Paris (awp / afp) – French-Italian electronics components STMicroelectronics recorded net sales of $ 3.5 billion (3.4 billion Swiss francs) in the first quarter, up 17.6%, and confirms its annual guidelines . statement published on Wednesday.

“This revenue performance, driven by strong demand for microcontrollers, was partially offset by a temporary reduction in operations at our manufacturing plant in Shenzhen, China due to the pandemic,” said the chairman and chief executive officer. Jean-Marc Chéry Group, quoted in a press release.

The Group recorded an increase in turnover in the area of ​​automotive products (+ 20.5%) and digital circuits (+ 35.2%), while sales of analog products and sensors decreased.

“We continue to run the company on a revenue plan for 2022 between $ 14.8 billion and $ 15.3 billion,” Mr. Chery continued.

The global economy is currently experiencing a shortage of semiconductors, whose demand is being increased by the increasing digitization of activities.

During the first three months of the year, profitability (operating margin) increased from 14.6% to 24.7% and net profit also more than doubled to $ 747 million, an increase that the group partly explains through new accounting provisions.

STMicroelectronics forecast net sales of $ 3.75 billion in the second quarter, up 25.3% year over year.

afp / jh

Elliot Frost

"Pop culture maven. Analyst. Writer. Wannabe food evangelist. Organizer. Friendly internet lover. Incurable troublemaker. Entrepreneur."