(Boursier.com) — STMicro reveals results that are generally lower than market expectations and its own forecasts for the fourth quarter and disappoints in terms of its outlook. The semiconductor giant recorded net income of $1.08 billion ($894 million consensus) over the last three months of 2023, or $1.14 per share after dilution, for net sales of $4 .28 billion dollars ($4.31 billion consensus). The gross margin stood at 45.5% (46.1% expected) and the operating margin at 23.9%, in line with expectations.
“In the fourth quarter, ST reported revenue and gross margin slightly below the midpoint of its financial outlook, with higher personal electronics revenue offset by a lower growth rate. high in automotive… Our customer order intake decreased compared to the third quarter. We continued to see stable end demand in automotive, a lack of significant increase in personal electronics and a further deterioration in the industrial sector”, affirms Jean-Marc Chéry, Chairman of the Management Board and Managing Director of STM.
For the first quarter of 2024, at the midpoint, the group anticipates net sales of $3.6 billion, down 15.2% year-on-year and 15.9% sequentially, and versus a consensus of $4.1 billion, with a gross margin of around 42.3%.
For the 2024 financial year, the Franco-Italian Company expects a turnover of between $15.9 billion and $16.9 billion, with a gross margin “in the low to mid-40’s”. STM plans to invest approximately $2.5 billion in net CAPEX.
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