STM published Q2 figures in line with the consensus. Net revenues were up by 13% yoy to $4.33bn, with a 49% gross margin. We were positively surprised by the Automotive and Discrete group’s resilience, registering a 34.4% increase yoy and 8.2% increase qoq. On the other hand, the AMS segment (which includes Memory end market) registered a 16% yoy decline and was 9% below the market’s expectations. For Q3 STMicroelectronics guided for net revenue of $4.38bn and a gross margin of 47.5%, in line wi ....
