STMicroelectronics NV (NYSE:STM) reported fiscal fourth-quarter 2023 revenue decline of 3.2% year-on-year to $4.28 billion, missing the consensus of $4.31 billion. EPS of $1.14 beat the consensus of $0.95. Sales to OEMs decreased by 0.4% Y/Y, and Distribution sales fell by 9.2% Y/Y. Automotive and Discrete Group (ADG) revenue rose 21.5% Y/Y to $2.06 billion. Analog, MEMS, and Sensors Group (AMS) revenue fell by 25.8% Y/Y to $993 million. Microcontrollers and Digital ICs Group (MDG) revenue decreased 11.5% Y/Y to $1.23 billion. Margins: The gross margin declined by 200 bps to 45.5% due to highe…
