STMicroelectronics Announces Third Quarter 2020 Preliminary Revenues and Timing for Third Quarter 2020 Earnings Release and...
October 01 2020 - 1:00AM
- Preliminary Q320 net revenues of $2.67 billion, above
the outlook range
- Q320 earnings release date: Thursday October 22,
2020
Geneva, October 1, 2020 -
STMicroelectronics (NYSE: STM), a global
semiconductor leader serving customers across the spectrum of
electronics applications, announced today that its preliminary and
unaudited net revenues for the third quarter ended September
26, 2020 are above the business outlook range provided in the
Company’s news release dated July 23, 2020.
Preliminary Q320 net revenues are $2.67 billion, up 27.8%
sequentially and 690 basis points above the high end of the range.
The prior outlook was for Q320 net revenues to be $2.45 billion, an
increase of 17.4% sequentially, plus or minus 350 basis points.
“We ended Q320 with net revenues above the outlook range due to
significantly better than expected market conditions throughout the
quarter. Sharp acceleration in demand of Automotive products and
Microcontrollers, as well as our engaged customer programs in
Personal Electronics, were the main factors that contributed to
this result. We now plan for our FY20 revenues to be above $9.65B.
I look forward to providing additional details on the third
quarter, and on our fourth quarter guidance, during our earnings
call on October 22,” said Jean-Marc Chery, STMicroelectronics’
President & CEO.
The Company will release third quarter 2020 earnings before the
opening of trading on the European Stock Exchanges on Thursday
October 22, 2020.
The press release will be available immediately after the
release on the Company’s website at www.st.com.
STMicroelectronics will conduct a conference call with analysts,
investors and reporters to discuss its third quarter 2020 financial
results and current business outlook on October 22, 2020 at 9:30
a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time
(ET).A live webcast (listen-only mode) of the conference call will
be accessible at ST’s website, http://investors.st.com, and will be
available for replay until November 6, 2020.
About STMicroelectronicsAt ST, we are 46,000
creators and makers of semiconductor technologies mastering the
semiconductor supply chain with state-of-the-art manufacturing
facilities. An independent device manufacturer, we work with our
100,000 customers and thousands of partners to design and build
products, solutions, and ecosystems that address their challenges
and opportunities, and the need to support a more sustainable
world. Our technologies enable smarter mobility, more efficient
power and energy management, and the wide-scale deployment of the
Internet of Things and 5G technology. Further information can be
found at www.st.com.
For further information, please contact:INVESTOR
RELATIONS:Céline BerthierGroup VP, Investor RelationsTel:
+41.22.929.58.12celine.berthier@st.com
MEDIA RELATIONS:Alexis BretonCorporate External
CommunicationsTel: + 33 6 59 16 79 08alexis.breton@st.com
- C2970C-01Oct2020-Q32020 Preliminary revenues and Timing
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