Posted on 01/26/2023 4:33:33 PM PST by FarCenter
Chipmaker STMicroelectronics appears to be bucking the industry trend by beating analyst expectations and delivering revenues towards the upper end of guidance, driven by demand from the automotive and industrial segments, the company said.
While others in the semiconductor business have reported weaker orders and declining profits, the Switzerland-based company saw net revenue for Q4 2022 of $4.42 billion, up 24.4 percent over the same period last year and 2.4 percent up on the previous quarter. Profit was $1.25 billion versus $750 million.
For the full year, revenue increased by 26.4 percent to $16.13 billion when compared with 2021, and net income reached $3.96 billion, almost double the $2.0 billion reported by STMicroelectronics for 2021.
President and CEO Jean-Marc Chery said on the company's earnings call the results were "driven by strong demand in Automotive and Industrial, and our engaged customer programs." However, all three of the semiconductor maker's product groups contributed to the growth, he added.
For the full year, the Automotive and Discrete Group (ADG) saw an increase in revenue of 38.4 percent, while the Microcontrollers and Digital ICs Group (MDG) grew 29.1 percent and the Analog, MEMS, and Sensors Group (AMS) increased by 7 percent.
As a chip designer and contract manufacturer, STMicro supplies chips to both Apple for the iPhone line and to carmaker Tesla for its electric vehicles.
But ST has racked up other wins in next-generation electric vehicle designs, Chery claimed, including Hyundai, which has chosen STMicro's Acepack Drive SiC-MOSFET Gen3-based power modules for its latest EV generation.
(Excerpt) Read more at theregister.com ...
I was buying ignition transistors from them in 1990 for my line of timing controllers. At that time they were known as SGS Thompson Semiconductor.
They were kind enough to let Shirley and I spend a few hours on a Saturday in a lab with one of their application engineers at their Phoenix location.
Melexis, formed after German reunification, would be another semi company that is highly concentrated in automotive. The growth of electronics in cars has driven a lot of innovation, not to mention GDP.
STM has a great line of inexpensive dev boards...good stuff. I like how many of these board have a programmer board attached that you can snap off if you wish..
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