| STMicroelectronics N.V. | |||
| CONSOLIDATED STATEMENTS OF INCOME | |||
| (in millions of U.S. dollars, except per share data ($)) | |||
|
Nine months ended
| |||
| September 30, | October 1, | ||
| 2023 | 2022 | ||
| (Unaudited) | (Unaudited) | ||
| Net sales | 12,977 | 11,675 | |
| Other revenues | 27 | 29 | |
| NET REVENUES | 13,004 | 11,704 | |
| Cost of sales | (6,666) | (6,171) | |
| GROSS PROFIT | 6,338 | 5,533 | |
| Selling, general and administrative | (1,215) | (1,076) | |
| Research and development | (1,579) | (1,429) | |
| Other income and expenses, net | 44 | 125 | |
| Total operating expenses | (2,750) | (2,380) | |
| OPERATING INCOME | 3,588 | 3,153 | |
| Interest income, net | 114 | 24 | |
| Other components of pension benefit costs | (14) | (7) | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 3,688 | 3,170 | |
| Income tax expense | (547) | (454) | |
| NET INCOME | 3,141 | 2,716 | |
| Net income attributable to noncontrolling interest | (6) | (3) | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 3,135 | 2,713 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 3.47 | 2.99 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 3.32 | 2.87 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 944.7 | 946.9 | |
STMicroelectronics Reports 2023 Third Quarter Financial Results
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