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STMicroelectronics Announces 4Q 2020 Preliminary Revenues

STMicroelectronics, a leading global semiconductor supplier that spans multiple electronic applications, announced that as of the fourth quarter of December 31, 2020, its preliminary unaudited net revenue is higher than the company's business outlook in its October 2020 press release.

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In the fourth quarter of 2020, preliminary net revenue amounted to US$3.24 billion, an increase of 21.3 per cent from the previous quarter, exceeding the expected maximum value of 580 basis points. Previously, net revenue was projected to be US$2.99 billion in the fourth quarter of 2020, an increase of 12.0 per cent from the previous quarter and a fluctuation of 350 basis points.

“We ended Q420 with net revenues above the outlook range due to significantly better than expected market dynamics throughout the quarter. Our engaged customer programs in Personal Electronics, as well as continuous acceleration in demand especially of Automotive products and microcontrollers, were the main factors that contributed to this result," said Jean-Marc Chery, STMicroelectronics president and CEO. "Our FY20 revenues reached $10.22 billion, an increase of 6.9% compared to FY19. I look forward to providing additional details on the fourth quarter and full year 2020 as well as on our first quarter 2021 guidance during our earnings call on Jan. 28, 2021.”

STMicroelectronics will publish its fourth quarter and full year 2020 earnings report before the opening of the European Stock Exchange on Thursday, 28 January 2021.

Following the announcement of the financial report, STMicroelectronics will immediately publish a financial report on the company's website.

STMicroelectronics will hold an earnings conference call at 9:30 a.m. Central European Time (CET)/3:30 a.m. Eastern Time (ET) on 28 January 2021 to discuss the fourth quarter of 2020 with analysts, investors and reporters and full-year financial performance as well as current business prospects.

About STMicroelectronics

STMicroelectronics has 46,000 semiconductor technology, products and solutions innovators and creators, mastering the semiconductor supply chain and the most advanced manufacturing equipment. As an independent manufacturer of semiconductor equipment, STMicroelectronics has worked with more than 100,000 customers and thousands of partners to develop products and solutions and to build an ecosystem together to help them better meet various challenges and new opportunities and meet the world's higher demand for sustainable development. The technology of ST makes people's travel smarter, power and energy management more efficient, and the Internet of Things and 5G technologies are more widely used.

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