GlobalFoundries Q1 Revenue Increases 3% Year-Over-Year to $1.63B, Matches Expectations; Projects Higher Q2 Revenue and Adjusted Earnings; GFS Shares Rise 9.28% (Patrick Seitz/Investor's Business Daily)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 13 hours ago
0mins
Source: Techmeme
Q1 Revenue Growth: Global Foundries reported a 3% year-over-year increase in Q1 revenue, reaching $1.63 billion, aligning with estimates and forecasts.
Earnings Performance: The company exceeded earnings estimates for Q1, driven by strong online sales performance.
Q2 Outlook: Global Foundries anticipates revenue and adjusted earnings for Q2 to be above market estimates.
Stock Performance: Following the earnings report, Global Foundries' stock closed up by 9.28%.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
