STMicroelectronics reported US GAAP financial results for the third quarter ended Sept. 26, 2020.
ST reported third quarter net revenues of $2.67 billion, gross margin of 36%, operating margin of 12.3%, and net income of $242 million or $0.26 diluted earnings per share.
“Looking at the fourth quarter, we expect sequential revenue growth of about 12.% at the mid-point,” said Jean-Marc Chery, STMicroelectronics president and CEO. “All product groups are expected to grow, except the RF Communications sub-group. Our gross margin is expected to be about 38.5%, including about 70 basis points of unsaturation charges.
"For the full year 2020, we now expect net revenues at the mid-point to be about $9.97 billion, translating into 4.3% year-over-year growth, with a double-digit operating margin performance,” added Chery.
