STMicroelectronics Shares Rise After Beating 4Q Revenue Goal
07 Enero 2022 - 03:11AM
Noticias Dow Jones
By Mauro Orru and Cristina Roca
Shares in STMicroelectronics NV rose after the company said a
dynamic market helped it perform better than expected in the fourth
quarter, taking its top line above the high end of its
guidance.
At GMT 0822, shares in the European chip maker traded 3.9%
higher at EUR44.5.
According to preliminary figures, revenue jumped to $3.56
billion from $3.24 billion for the fourth quarter of 2020.
The company had targeted revenue of $3.40 billion, plus or minus
350 basis points. The result means revenue is now 140 basis points
above the high end of the guided range.
"Strong revenue growth of 11% quarter-on-quarter, above the top
end of the previously guided range, is indicative of strong
near-term demand, but perhaps more importantly, ST's ability to
produce and procure in the face of current supply bottlenecks,"
Citi analysts said in a note.
STMicroelectronics will release fourth-quarter and 2021 results
on Jan. 27.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94 and
Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
January 07, 2022 03:56 ET (08:56 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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