Italian Semiconductor had revenue of US $4.42 billion in the fourth quarter of 2022, an increase of 24.4% over the same period last year.

CTOnews.com January 26, European chipmaker St reported fourth-quarter results, despite the challenging economic situation, but benefited from strong customer demand, revenue data exceeded expectations.

Net revenue in the fourth quarter of 2022 rose from $4.32 billion in the previous quarter (currently about 29.29 billion yuan) to $4.42 billion (currently about 29.968 billion yuan), an increase of 24.4 percent year-on-year and 2.4 percent month-on-month, according to the financial report. The average analyst expects revenue of $4.32 billion, according to Refinitiv Eikon's IBES data.

Net profit for Q4 under the GAAP criteria was $1.248 billion (currently about 8.461 billion yuan), up 66.4% from a year earlier and 13.5% from a month earlier. Diluted earnings per share under the GAAP guidelines were $1.32, higher than the average analyst estimate of $1.09, compared with $0.82 a year earlier and $1.16 in the previous quarter.

St's biggest customers include iPhone maker Apple and electric car maker Tesla, which had revenue of $16.1 billion (currently about 109.158 billion yuan) for all of 2022.

CTOnews.com learned that according to product group departments, the performance of STMicroelectronics Q4 departments is as follows:

Revenue from the Automotive products and discrete components Division (ADG) was $1.696 billion (currently about 11.499 billion yuan), an increase of 38.4% year-on-year and 8.5% month-on-month.

The Analog Devices, MEMS and Sensor Division (AMS) had revenues of $1.339 billion (currently about 9.078 billion yuan), up 7 per cent from a year earlier and down 3 per cent from a month earlier.

The revenue of single-chip microcomputer and digital IC department (MDG) was $1.383 billion (currently about 9.377 billion yuan), an increase of 29.1% year-on-year and 0.7% month-on-month.

Other divisions had revenue of $6 million (currently about 40.68 million yuan), compared with $8 million in the same period last year.

Jean-Marc Chery, chief executive of STMicroelectronics, said strong demand from automotive and industrial customers had boosted sales. Due to strong demand and increased manufacturing capacity, the company expects full-year revenue in 2023 to reach $16.8 billion to $17.8 billion.

The company had previously targeted full-year revenue of $20 billion by 2027.