STMicroelectronics Reports 2024 Third Quarter Financial Results
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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 | | | | |
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