{"id":1576524,"date":"2022-07-28T11:24:57","date_gmt":"2022-07-28T15:24:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1576524"},"modified":"2022-07-28T11:25:06","modified_gmt":"2022-07-28T15:25:06","slug":"chipmaker-stmicroelectronics-beats-estimates-lifts-2022-outlook","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chipmaker-stmicroelectronics-beats-estimates-lifts-2022-outlook\/","title":{"rendered":"Chipmaker STMicroelectronics beats estimates, lifts 2022 outlook"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchipmaker-stmicroelectronics-beats-estimates-lifts-2022-outlook%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1576524&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Supantha Mukherjee and Mathieu Rosemain<\/p>\n<p>STOCKHOLM\/PARIS (Reuters) -STMicroelectronics raised its full-year outlook on Thursday after the Franco-Italian chipmaker beat second-quarter revenue expectations helped by strong demand for chips used in products ranging from smartphones to cars.<\/p>\n<p>The group, whose top clients include iPhone maker Apple and electric carmaker Tesla, strongly benefits from a surge in power-management semiconductors as the auto industry moves to low-emission vehicles, and from automation in multiple industries.<\/p>\n<p>\u201cBookings remained strong across all customers and geographies,\u201d CEO Jean-Marc Chery said in the call to analysts. \u201cBacklog visibility is now above 18 months and well above our current and planned manufacturing capacity through 2023.\u201d<\/p>\n<p>STMicro\u2019s shares were up 2.5% at 0906 GMT. <\/p>\n<p>The high demand for chips was also underpinned by the COVID-19 pandemic, which stimulated sales of smartphones and computers as people worked from home. Research firm Gartner predicted growth will slow later this year and a fall in chip demand next year. <\/p>\n<p>STMicro lifted its 2022 revenue forecast to between $15.9 billion and $16.2 billion from a range of $14.8 billion to $15.3 billion.<\/p>\n<p>It forecast third-quarter net revenue of $4.24 billion, beating an estimate of $3.81 billion.<\/p>\n<p>STMicroelectronics and GlobalFoundries announced plans this month to build a chip factory in France, with the help of government funding.<\/p>\n<p>The facility, which will be next to STM\u2019s plant in Crolles, would create about 1,000 new jobs and help STMicro reach its goal of boosting revenue above $20 billion.<\/p>\n<p>The Geneva-based company\u2019s quarterly net revenue rose to $3.84 billion from $3.0 billion a year earlier, beating analysts\u2019 estimate of $3.69 billion, IBES data from Refinitiv showed.<\/p>\n<p>Its diluted earnings rose to 92 cents a share, beating an estimate of 76 cents a share.<\/p>\n<p> (Reporting by Supantha Mukherjee, European Technology &#038; Telecoms Correspondent, based in Stockholm; Editing by Terje Solsvik, Clarence Fernandez and William Mallard)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2731502\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6R04P-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6R04P-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Supantha Mukherjee and Mathieu Rosemain STOCKHOLM\/PARIS (Reuters) -STMicroelectronics raised its full-year outlook on Thursday after the Franco-Italian chipmaker beat second-quarter revenue expectations helped by strong demand for chips used<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1576524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1576524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1576524"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1576524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1576524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1576524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1576524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}