STMicroelectronics Reports 1Q 2021 Financial Results

With net revenues up 35.2% year over year, STMicroelectronics had a strong first quarter of 2021.

ST reported first quarter net revenues of $3.02 billion, gross margin of 39%, operating margin of 14.6%, and net income of $364 million or $0.39 diluted earnings per share for the first quarter ended April 3, 2021.

“In the first quarter of 2021, net revenues increased 35.2% year-over-year,” said Jean-Marc Chery, STMicroelectronics president and CEO. “All product groups contributed to this growth, on continued acceleration of demand globally. Operating margin improved 420 basis points to 14.6% and net income increased 89.6% to $364 million.

“On a sequential basis, net revenues decreased 6.8%, 270 basis points above the mid-point of our outlook. Automotive and Power Discrete products and Microcontrollers increased sequentially, partially offset by Personal Electronics products,” Chery added.

“We will drive the company based on a plan for FY21 revenues of $12.1 billion, plus or minus $150 million, a year-over-year increase of 18.4% at the mid-point,” he concluded.