French-Italian semiconductor maker STMicroelectronics announced that sales (preliminary figures) for the fourth quarter increased 11.2% to $ 3.56 billion.
It slightly exceeded the forecast ($ 3.4 billion) at the end of October due to the global supply shortage of semiconductors.
Full-year sales were up 24.9% to $ 12.76 billion, also higher than the company expected.
“The fourth-quarter net sales were above the expected range and the gross margin was at or slightly above the upper limit of the range,” Jean-Mark Shelley, president and CEO, said in a statement. Explained that it was stronger than expected.
The company will announce the details of its financial results on the 27th.