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