・Q1 net revenues $3.47 billion; gross margin 41.7%; operating margin 15.9%; net income $513 million

・Q1 free cash flow $(134) million after Net Capex of $967 million  

・Business outlook at mid-point: Q2 net revenues of $3.2 billion and gross margin of 40%

Geneva, April 25, 2024 – STMicroelectronics N.V. (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the first quarter ended March 30, 2024. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported first quarter net revenues of $3.47 billion, gross margin of 41.7%, operating margin of 15.9%, and net income of $513 million or $0.54 diluted earnings per share.