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Home > News > Company News > ST looking to 14-17% growth th.....

ST looking to 14-17% growth this year

  • Author:Ella Cai
  • Release on:2018-07-26
ST had Q2 revenues of $2.27 billion up 18% on Q2 2017.

Gross margin was 40% and profit was $261 million.

It expects Q3 revenues to show growth of 10% to about $2.5 billion.

The company’s growth target for the year is between 14 and 17% growth.

“We are growing significantly in the third and fourth quarters in personal electronics, in particular smartphones. This growth from a gross margin point of view is not accretive,” said CFO Lorenzo Grandi, “gross margins will be impacted by this ingredient of product mix.”

Q3/4 is when Apple orders are expected to kick in. However they are not expected to have a positive effect on margins.

ST is looking to shift its product mix to cars and industrial and away from the less stable mobile market.