ST looks at $12bn revenue year ST had Q1 net revenues of $3.02 billion with a gross margin of 39%, an operating margin of 14.6% and net income of $364 million. Q1 capex was $405 million. The company expects Q2 net revenues of $2.9 billion with a gross margin of 39.5%. “In the first quarter of 2021, net revenues increased 35.2% year-over-year,” says CEO Jean-Marc Chery (pictured), “all product groups contributed to this growth, on continued acceleration of demand globally. Operating margin improved 420 basis points to 14.6% and net income increased 89.6% to $364 million. On a sequential basis, net revenues decreased 6.8%, 270 basis points above the mid-point of our outlook.” ”Automotive and Power Discrete products and Microcontrollers increased sequentially, partially offset by Personal Electronics products,” adds Chery, “ST’s second quarter outlook, at the mid-point, is for net revenues of $2.9 billion, increasing year-over-year by 39%, and decreasing sequentially by 3.8% due to usual seasonality in Personal Electronics; gross margin is expected to be about 39.5%.”