GlobalFoundries (GFS) rises after topping earnings expectations

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Go back to GlobalFoundries (GFS) rises after topping earnings expectations

GlobalFoundries Reports Third Quarter 2023 Financial Results

November 7, 2023 7:00 AM EST

MALTA, N.Y., Nov. 07, 2023 (GLOBE NEWSWIRE) -- GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the third quarter ended September 30, 2023.

Key Third Quarter Financial Highlights

Revenue of $1,852 million.Gross margin of 28.6% and adjusted gross margin(1) of 29.2%.Operating margin of 14.1% and adjusted operating margin(1) of 17.4%.Net income of $249 million and adjusted net income(1) of $308... More