STMicroelectronics had a mixed performance in the fourth quarter of the year, with revenues declining by 3.2% year-on-year to $4.28 billion. However, the full-year revenue showed growth, reaching $17.29 billion compared to last year's $16.13 billion. In Q4, the gross profit fell by 7.3% to $1.95 billion, leading to a gross margin of 45.5%, down from 47.5%. The net profit also experienced a decline, dropping by 14% to $1.08 billion. Operating income fell by 20.5% to $1.02 billion, with a margin of 23.9%, down from 29.1%.
Looking ahead, STMicroelectronics expects revenue in the range of $15.9 billion to $16.9 billion in 2024, with a gross margin percentage in the low-to-mid 40s. For the first quarter, the company anticipates revenue of $3.6 billion and a gross margin of 42.3%. The 2024 capital expenditure is budgeted at $2.5 billion.
STMicroelectronics N.V., commonly referred to as ST or STMicro, is a multinational corporation and technology company with French-Italian origins. It is headquartered in Plan-les-Ouates and is listed on the New York Stock Exchange, Euronext Paris (CAC 40), and the Borsa Italiana in Milan (FTSE MIB). ST is the largest European semiconductor contract manufacturing and design company, resulting from the merger of two government-owned semiconductor companies in 1987: Thomson Semiconducteurs of France and SGS Microelettronica of Italy.
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