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On the 27th local time, chip giant STMicroelectronics announced its financial results for the first quarter of 2022.

The company's current revenue was US$3.546 billion, a year-on-year increase of 17.6%, exceeding market expectations; net profit was US$747 million, a year-on-year increase of 105.1%; gross profit margin was 46.7%, an increase of nearly 7 percentage points year-on-year and a month-on-month increase of 1.5 percentage points.

Divided by specific business lines, the revenue of Q1 automotive products and discrete components was US$1.256 billion, a year-on-year increase of 20.5% and a month-on-month increase of 2.5%; the revenue of analog devices, MEMS and sensors (AMS) was US$1.087 billion, a year-on-year increase of 0.4%. A month-on-month decrease of 13.8%. MCU and digital IC revenue was US$1.198 billion, a year-on-year increase of 35.2% and a month-on-month increase of 12.8%.

Looking ahead, STMicroelectronics expects that Q2 is expected to achieve revenue of $3.75 billion, an increase of 5.8% month-on-month, and a gross profit margin of about 46%. Full-year revenue is expected to reach $14.8 billion to $15.3 billion.

In the subsequent conference call, the CEO of STMicroelectronics revealed that according to the sales and operation plan, the company's production capacity has been fully saturated within this year, and the capacity utilization rate has exceeded 90%.

At the same time, chip orders have reached a record high, 30%-30% higher than the company's production capacity. The largest customers include Apple and Tesla.

He said that although some factories were affected by the epidemic and lost about two weeks of production, STMicroelectronics can transfer production to other factories, and MCU sales performance is expected to exceed market expectations.