STMicroelectronics reports 23% drop in FY2024 revenues

STMicroelectronics has reported fourth quarter net revenues of $3.32 billion, gross margin of 37.7%, operating margin of 11.1%, and net income of $341 million

STMicroelectronics (STM) has reported US GAAP financial results for the fourth quarter ended December 31, 2024. STM reported fourth quarter net revenues of $3.32 billion, gross margin of 37.7%, operating margin of 11.1%, and net income of $341 million or $0.37 diluted earnings per share. Net revenues totaled $3.32 billion, representing a year-over-year (y/y) decrease of 22.4%. Year-over-year net sales to OEMs and Distribution decreased 19.8% and 28.7%, respectively. On a sequential basis, net revenues increased 2.2%, in line with the mid-point of STM’s guidance.