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Tech company STMicro reports higher than expected Q4 revenues

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PARIS : Franco-Italian chipmaker STMicroelectronics said its preliminary fourth-quarter revenues were slightly above the guidance given at the end of October, in the context of a global microchip supply crunch.Sales for the last three months of 2021 increased by 11.2per cent sequentially, coming in at US$

PARIS : Franco-Italian chipmaker STMicroelectronics said its preliminary fourth-quarter revenues were slightly above the guidance given at the end of October, in the context of a global microchip supply crunch.

"We ended the fourth quarter of 2021 with net revenues above the outlook range and gross margin at, or slightly above, the high-end of the outlook range, primarily due to betterthan anticipated operations in an ongoing dynamic market", said STMicroelectronics president and CEO Jean-Marc Chery.

 

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