STMicroelectronics reports that its net income for fiscal year 2022 will almost double that of 2021, to $3.96 billion, and that its operating margin will increase from 19% to 27.5% year-on-year.

The Franco-Italian semiconductor manufacturer's sales rose by 26.4% to $16.13 billion, driven by strong demand in the automotive and industrial sectors, as well as by programs undertaken with its customers.

Given the strong demand from its customers and the increase in its production capacity, STMicroelectronics expects sales for 2023 of between $16.8 and $17.8 billion.

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