Thanks in large part to better than expected sales in what is an ongoing dynamic market, STMicroelectronics accumulated net revenues of $3,56 billion for its fourth financial quarter of 2021 (4Q21), driving net income of $750 million or $0,82 diluted earnings per share.
Q421 net revenues were 9,9% higher year-over-year, with a further increase in profitability: operating margin of 24,9% improved from 20,3% and net income was up 28,9%. For the full year, net revenues increased 24,9% to $12,76 billion and net income was up 80,8% at $2 billion ($2,16 diluted earnings per share).
The outlook for the first quarter of 2022 is for net revenues of $3,50 billion, increasing year-over-year by 16,1% and decreasing sequentially by 1,6%. ST also announced plans to invest about $3,4 billion to $3,6 billion in capex during this year to further increase production capacity and to support such initiatives as the first industrialisation line of its new 300 mm wafer fab in Agrate, Italy. Based on strong customer demand and increased capacity, the company plans to achieve full-year 2022 revenues in the range of $14,8 billion to $15,3 billion.
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