STMicroelectronics recently announced its second-quarter financial report, showing that its revenue for the quarter reached US$3.84 billion, a year-on-year increase of 28.3% and a month-on-month increase of 8.2%, exceeding market expectations. STMicroelectronics then revised its full-year 2022 revenue guidance to $15.9-$16.2 billion from $14.8-$15.3 billion.

Jean-Marc Chery, CEO of the company, said that about 40% of the profit growth in the second quarter can be attributed to the adjustment of product prices.

Looking forward to the next 18-24 months, Jean-Marc Chery said that orders will continue to exceed the company's production capacity until 2023, and the production line will remain fully loaded.

According to previous reports, STMicroelectronics has announced that it will cooperate with GF to build a new fab in Crolles, France, to help the company achieve an annual revenue of 20 billion US dollars around 2027.