STMicroelectronics Reports 2024 Second Quarter Financial Results
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STMicroelectronics N.V. | | | |
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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) | |
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OPERATING INCOME |
925 |
2,347 | |
| Interest income, net | 111 | 70 | |
| Other components of pension benefit costs | (8) | (9) | |
| Loss on financial instruments, net | (1) | - | |
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INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTEREST |
1,027 |
2,408 | |
| Income tax expense | (159) | (359) | |
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NET INCOME |
868 |
2,049 | |
| Net income attributable to noncontrolling interest | (3) | (4) | |
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NET INCOME ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS |
865 |
2,045 | |
| | | | |
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EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS |
0.96 |
2.27 | |
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EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS |
0.92 |
2.16 | |
| | | | |
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NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS |
941.8 |
945.0 | |
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