GLOBALFOUNDRIES (NASDAQ: GFS) reported Q1 EPS of $0.07, $0.07 better than the analyst estimate of $0.00. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.7 billion.

“The third quarter marked the ongoing acceleration of our strategy to lead in the pervasive semiconductor market and demonstrated continued progress towards our target financial model,” said Tom Caulfield, CEO of GF. “Our revenue growth was primarily driven by higher wafer output and continued improvement in mix as our differentiated solutions become a larger portion of our total business. We expect continued revenue and profit growth in the fourth quarter. We are also excited to begin our journey as a public company. Our IPO in October was an outcome of more than a decade of dedication and commitment of our more than 15,000 employees to build an at-scale global semiconductor manufacturer with strong technological differentiation.”

For earnings history and earnings-related data on GLOBALFOUNDRIES (GFS) click here.