GLOBALFOUNDRIES (GFS) tops Q2 earnings, revenue expectations

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GlobalFoundries Reports Second Quarter 2023 Financial Results

August 8, 2023 7:00 AM EDT

MALTA, New York, Aug. 08, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the second quarter ended June 30, 2023.

Key Second Quarter Financial Highlights

Revenue of $1,845 million.Gross margin of 28.8% and adjusted gross margin(1) of 29.6%.Operating margin of 14.9% and adjusted operating margin(1) of 18.3%.Net income of $237 million and adjusted net income(1) of $297... More