STMicroelectronics Reports 2Q 2022 Financial Results

STMicroelectronics reported U.S. GAAP financial results for the second quarter ended July 2, 2022.

ST reported second quarter net revenues of $3.84 billion, gross margin of 47.4%, operating margin of 26.2%, and net income of $867 million or $0.92 diluted earnings per share.

“First half net revenues increased 22.9% year-over-year, driven by growth in all product groups and sub- groups. Operating margin was 25.5% and net income was $1.61 billion,” said Jean-Marc Chery, STMicroelectronics president and CEO. “ST’s third quarter outlook, at the mid-point, is for net revenues of $4.24 billion, increasing year-over-year by 32.6% and sequentially by 10.5%; gross margin is expected to be about 47%.
 
“On a year-over-year basis, Q2 net revenues increased 28.3%, operating margin increased to 26.2% from 16.3% and net income doubled to $867 million.,” Chery added.

Free cash flow (non-U.S. GAAP) was $230 million in the second quarter, compared to $125 million in the year-ago quarter.