STMicroelectronics Reports 2024 Third Quarter Financial Results

• Q3 net revenues $3.25 billion; gross margin 37.8%; operating margin 11.7%; net income $351 million
• YTD net revenues $9.95 billion; gross margin 39.9%; operating margin 13.1%; net income $1.22 billion
• Business outlook at mid-point: Q4 net revenues of $3.32 billion and gross margin of 38%
• Launch of a new company-wide program to reshape our manufacturing footprint accelerating our wafer fab capacity to 300mm Silicon and 200mm Silicon Carbide and resizing our global cost base

The press release is available as a PDF here