STMicroelectronics reported Q3 2024 revenues of $3.25 billion, up 0.6% QoQ but down 26.6% YoY, in line with guidance. Gross margin declined to 37.8% from 40.1% QoQ and 47.6% YoY due to product mix and higher unused capacity charges. Operating margin was 11.7% with net income of $351 million.By segment, Analog, MEMS & Sensors revenue rose 1.7% QoQ to $1.19B, Power & Discrete increased 7.9% to $807M, Microcontrollers grew 3.6% to $829M, while Digital ICs & RF declined 17.4% to $426M. The company maintained a strong financial position with net cash of $3.18 billion.For Q4 2024, STM expects revenue growth of approximately 2.2% QoQ with gross margin around 38%. The company announced a new program to reshape manufacturing footprint by accelerating 300mm silicon and 200mm SiC capacity, targeting high triple-digit million annual cost savings by 2027 exit.

STMicroelectronics reported Q3 2024 revenues of $3.25 billion, up 0.6% QoQ but down 26.6% YoY, in line with guidance. Gross margin declined to 37.8% from 40.1% QoQ and 47.6% YoY due to product mix and higher unused capacity charges. Operating margin was 11.7% with net income of $351 million.By segment, Analog, MEMS & Sensors revenue rose 1.7% QoQ to $1.19B, Power & Discrete increased 7.9% to $807M, Microcontrollers grew 3.6% to $829M, while Digital ICs & RF declined 17.4% to $426M. The company maintained a strong financial position with net cash of $3.18 billion.For Q4 2024, STM expects revenue growth of approximately 2.2% QoQ with gross margin around 38%. The company announced a new program to reshape manufacturing footprint by accelerating 300mm silicon and 200mm SiC capacity, targeting high triple-digit million annual cost savings by 2027 exit.