STMicroelectronics released its fourth quarter and full year 2024 financial results on January 30, 2025. For the full year 2024, the company reported total revenue of $13.27 billion, representing a 23.2% decrease year-over-year, primarily driven by significant declines in the industrial and automotive sectors.
The gross margin for 2024 stood at 39.3%, down from 47.9% in 2023, reflecting an unfavorable product mix, lower manufacturing efficiency, and higher unused capacity charges. Operating margin decreased to 12.6% from 26.7% in 2023, with net income falling to $1.56 billion, a 63% reduction year-over-year.
Looking ahead, STMicroelectronics expects sales to fall further in the first quarter of 2025, as the downturn in its key markets continues into the new year. This guidance indicates ongoing challenges in demand and inventory correction across its segments.
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