STMicroelectronics Delivers Impressive Q2 Revenue Growth Across Segments, Expands Margins, Stock Shines
Portfolio Pulse from Anusuya Lahiri
STMicroelectronics NV reported Q2 FY23 revenue growth of 12.7% YoY to $4.33 billion, beating consensus of $4.27 billion. However, EPS of $1.06 missed the consensus of $1.08. The company saw growth across all segments, with the Automotive and Discrete Group (ADG) revenue rising 34.4% YoY. The company also expanded its margins and revised its FY23 revenues outlook to $17.25 billion - $17.55 billion. STM shares traded higher by 6.82%.
July 27, 2023 | 1:42 pm
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STMicroelectronics reported strong Q2 FY23 results with revenue growth across all segments and expanded margins. The company also revised its FY23 revenues outlook upwards.
The company reported strong Q2 FY23 results with revenue growth across all segments and expanded margins, which is a positive signal for investors. The upward revision of the FY23 revenues outlook also indicates the company's confidence in its future performance, which could positively impact the stock price.
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