GENEVA (dpa-AFX) - STMicroelectronics (STM) said its preliminary fourth quarter net revenues are above the business outlook range provided on October 22, 2020. Preliminary fourth quarter net revenues are $3.24 billion, up 21.3% sequentially and 580 basis points above the high end of the range. The prior outlook was for net revenues to be $2.99 billion, an increase of 12.0% sequentially, plus or minus 350 basis points.
Fiscal 2020 revenues were $10.22 billion, up 6.9% from prior year. The company will release its earnings on January 28, 2021.
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