| STMicroelectronics N.V. | |||
| CONSOLIDATED STATEMENTS OF INCOME | |||
| (in millions of U.S. dollars, except per share data ($)) | |||
| Six months ended | |||
| June 29, | July 1, | ||
| 2024 | 2023 | ||
| (Unaudited) | (Unaudited) | ||
| Net sales | 6,670 | 8,561 | |
| Other revenues | 27 | 12 | |
| NET REVENUES | 6,697 | 8,573 | |
| Cost of sales | (3,958) | (4,344) | |
| GROSS PROFIT | 2,739 | 4,229 | |
| Selling, general and administrative expenses | (844) | (808) | |
| Research and development expenses | (1,063) | (1,060) | |
| Other income and expenses, net | 93 | (14) | |
| Total operating expenses | (1,814) | (1,882) | |
| OPERATING INCOME | 925 | 2,347 | |
| Interest income, net | 111 | 70 | |
| Other components of pension benefit costs | (8) | (9) | |
| Loss on financial instruments, net | (1) | - | |
| INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 1,027 | 2,408 | |
| Income tax expense | (159) | (359) | |
| NET INCOME | 868 | 2,049 | |
| Net income attributable to noncontrolling interest | (3) | (4) | |
| NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 865 | 2,045 | |
| EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.96 | 2.27 | |
| EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 0.92 | 2.16 | |
| NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 941.8 | 945.0 | |
STMicroelectronics Reports 2024 Second Quarter Financial Results
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