STM closed the 2023 financial year with revenues of 17.3 billion dollars (15.9 billion euros), an increase of 7.2% compared to 2022. Net profit rose by 6.3% to 4.21 billion dollars.
The year's results are in line with analysts' expectations and with the estimates provided by the company last October.
In the fourth quarter, revenues stood at 4.28 billion dollars (3.9 billion euros), with a year-on-year decline of 3.2%.
Net profit was 1.08 billion dollars (1 billion euros), a decrease of 13.8% compared to the same period of the previous year.
STM for 2024 expects a "revenue plan of between $15.9 billion and $16.9 billion. We plan to invest approximately $2.5 billion in net capital expenditures", says Jean-Marc Chery, president and CEO by Stmicroelectronics.
In the fourth quarter of last year, Stm reported revenues and gross margin "slightly lower - it continues - than the midpoint of the guidance, with higher revenues in personal electronics counterbalanced by a lower growth rate in automotive. As regards the forecasts for the first quarter 2024, we expect revenues of 3.6 billion dollars as an intermediate value, corresponding to a year-on-year decline of 15.2% and a decrease of 15.9% compared to the previous quarter; the gross margin is expected to be around 42.3 percent".
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