GlobalFoundries (GFS) Reported Q3 EPS Beat as Revenues Grew 56% in First Report Since IPO

November 30, 2021 4:51 PM EST
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In its first earnings reports since going public in October, semiconductor foundry company GlobalFoundries (NASDAQ: GFS) reported Q3 results, with EPS coming in at $0.07, beating the consensus estimate of $0.00. Quarterly revenue grew 5% sequentially and 56% year-over-year to $1.7 billion (in-line with Street estimates) reflecting ongoing demand for the company’s differentiated technologies.

The company provided its Q4 outlook, expecting revenue to be between $1,800 million and $1,830 million, and adjusted basic EPS to range from $0.09 to $0.13.

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