STMicroelectronics N.V. | ||
CONSOLIDATED STATEMENTS OF INCOME | ||
(in millions of U.S. dollars, except per share data ($)) | ||
Nine months ended | ||
September 28, | September 30, | |
2024 | 2023 | |
(Unaudited) | (Unaudited) | |
Net sales | 9,915 | 12,977 |
Other revenues | 32 | 27 |
NET REVENUES | 9,947 | 13,004 |
Cost of sales | (5,980) | (6,666) |
GROSS PROFIT | 3,967 | 6,338 |
Selling, general and administrative expenses | (1,229) | (1,215) |
Research and development expenses | (1,554) | (1,579) |
Other income and expenses, net | 123 | 44 |
Total operating expenses | (2,660) | (2,750) |
OPERATING INCOME | 1,307 | 3,588 |
Interest income, net | 166 | 114 |
Other components of pension benefit costs | (12) | (14) |
Loss on financial instruments, net | (1) | - |
INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST | 1,460 | 3,688 |
Income tax expense | (231) | (547) |
NET INCOME | 1,229 | 3,141 |
Net income attributable to noncontrolling interest | (13) | (6) |
NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1,216 | 3,135 |
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.35 | 3.47 |
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS | 1.29 | 3.32 |
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS | 940.2 | 944.7 |
STMicroelectronics Reports 2024 Third Quarter Financial Results
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