| 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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