STMicroelectronics Announces Third Quarter 2020 Preliminary Revenues and Timing for Third Quarter 2020 Earnings Release and Conference Call
STMicroelectronics (NYSE: STM) reported preliminary Q320 net revenues of $2.67 billion, exceeding its prior guidance of $2.45 billion and rising by 27.8% sequentially. This performance reflects significantly improved market conditions, driven by increased demand in Automotive products and Microcontrollers. The company now anticipates FY20 revenues to surpass $9.65 billion. Further financial details will be disclosed in the earnings call scheduled for October 22, 2020.
- Preliminary Q320 net revenues of $2.67 billion, up 27.8% sequentially.
- Exceeds prior Q320 outlook of $2.45 billion.
- Increased demand for Automotive products and Microcontrollers.
- FY20 revenue guidance now above $9.65 billion.
- None.
- Preliminary Q320 net revenues of
$2.67 billion , above the outlook range - Q320 earnings release date: Thursday October 22, 2020
Geneva, October 1, 2020 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today that its preliminary and unaudited net revenues for the third quarter ended September 26, 2020 are above the business outlook range provided in the Company’s news release dated July 23, 2020.
Preliminary Q320 net revenues are
“We ended Q320 with net revenues above the outlook range due to significantly better than expected market conditions throughout the quarter. Sharp acceleration in demand of Automotive products and Microcontrollers, as well as our engaged customer programs in Personal Electronics, were the main factors that contributed to this result. We now plan for our FY20 revenues to be above
The Company will release third quarter 2020 earnings before the opening of trading on the European Stock Exchanges on Thursday October 22, 2020.
The press release will be available immediately after the release on the Company’s website at www.st.com.
STMicroelectronics will conduct a conference call with analysts, investors and reporters to discuss its third quarter 2020 financial results and current business outlook on October 22, 2020 at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET).
A live webcast (listen-only mode) of the conference call will be accessible at ST’s website, http://investors.st.com, and will be available for replay until November 6, 2020.
About STMicroelectronics
At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with our 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.
For further information, please contact:
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41.22.929.58.12
celine.berthier@st.com
MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
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