Categories AlphaGraphs, Consumer, Technology

STMicroelectronics’ shares soar 9% after Q4 results beat expectations

STMicroelectronics NV (STM) surpassed analysts’ expectations on revenue and earnings for the fourth quarter of 2018, sending shares soaring 9.5% in morning hours on Thursday.

Net revenues grew 7.4% year-over-year to $2.65 billion, helped by double-digit growth across ADG, in Imaging and Digital. Sales to OEMs and Distribution rose by 8.9% and 4.1% respectively.

Net income rose 35% to $418 million or $0.46 per share from the prior-year quarter.

The company recorded revenue increases across all its segments except Microcontrollers and Digital ICs Group (MDG) which fell 6.9% year-over-year. The Automotive and Discrete Group (ADG) delivered the highest growth of 17.8%, with double-digit growth in Automotive and Power Discrete.

In Analog, MEMS and Sensors Group (AMS), revenues grew 9.5% year-over-year. Within AMS, Imaging delivered double-digit revenue growth while Analog and MEMS saw growth in single-digits. Within the Microcontrollers and Digital ICs Group (MDG), Digital ICs saw double-digit revenue growth while Microcontrollers/Memories posted declines.

STMicroelectronics stock tanks on weak outlook, despite Q3 beat

At the end of the quarter, inventory totaled $1.56 billion and day sales of inventory was 88 days. Capital expenditures totaled $279 million in the quarter.

For the first quarter of 2019, the company expects net revenues of about $2.1 billion at the midpoint, representing a year-over-year decline of about 5.7%. Gross margin is expected to be about 39%, plus or minus 200 basis points. For the full year of 2019, Capex is expected to total around $1.2 billion to $1.3 billion.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top