STMicroelectronics GAAP EPS of $0.92 beats by $0.12, revenue of $3.84B beats by $80M, raises FY22 guidance

• STMicroelectronics press release (NYSE:STM): Q2 GAAP EPS of $0.92 beats by $0.12.
• Revenue of $3.84B (+28.4% Y/Y) beats by $80M.

• The Company’s guidance, at the mid-point, for the 2022 third quarter is:

  • Net revenues are expected to be $4.24 billion ($3.90 consensus), an increase of 10.5% sequentially, plus or minus 350 basis points;
  • Gross margin of 47.0%, plus or minus 200 basis points;
• Raises FY22 revenue guidance in the range of $15.9 billion to $16.2 billion (from prior outlook of $14.8B-$15.3B vs. $14.99B consensus) and gross margin to be about 47.0%.