Globalfoundries Inc (NASDAQ:GFS) closed at $53.38, marking a significant pre-market surge of $3.88. Pre-market trading tends to exhibit heightened volatility due to lower trading volume outside standard hours. US govt grant of $1.5 billion to GlobalfoundriesCopy link to sectionThe recent news of the U.S. government awarding a $1.5 billion grant to GlobalFoundaries to bolster semiconductor production and fortify the supply chain in the U.S. has impacted the stock’s trajectory. In addition to the sizable gran ...

GlobalFoundries Fab 9 in Essex Junction, VermontGlobalFoundriesThe announcement of a preliminary memorandum to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to GlobalFoundries (GF) signals an investment in critical domestic capabilities around mixed signal and analog technology, a branch of the semiconductor industry that gets far less attention than it deserves. While the majority of the funding will contribute towards the expansion of GF’s facilities in Malta, NY, so ...

$1.5 billion potential investment will support the expansion of GlobalFoundries New York facility, including construction of a new state-of-the art fab, and the modernization of its Vermont facility, adding secure capacity for essential chip manufacturing for automotive and other key markets Additional $600 million plus planned in New York State Green CHIPS and other State benefits over the 10-year term of the New York projects MALTA, N.Y. and ESSEX JUNCTION, Vt., Feb. 19, 2024 (GLOBE NEWSWIRE) -- The U.S. ...

GlobalFoundries (GFS) has delivered adjusted earnings of 64 cents per share in fourth-quarter 2023, beating the Zacks Consensus Estimate by 8.5%. However, the bottom line declined 56% on a year-over-year basis.Revenues of $1.85 million topped the Zacks Consensus Estimate by 0.2%. However, the top line dipped 12% year over year.Weakness across the smart mobile devices, communications infrastructure and datacenter, home and industrial IoT, and personal computing end-markets was a major concern.Wafer shipments ...

GLOBALFOUNDRIES Inc. (NASDAQ:GFS) Q4 2023 Earnings Conference Call February 13, 2023 8:30 AM ET Company Participants Sam Franklin - Head, Capital Markets & Vice President, Investor Relations Thomas Caulfield - Chief Executive Officer David Reeder - Chief Financial Officer John Hollister - Chief Financial Officer Niels Anderskouv - Chief Business Officer Conference Call Participants Harlan Sur - JPMorgan Ross Seymore - Deutsche Bank Joseph Moore - Morgan Stanley Chris Caso - Wolfe Research Krish Sankar - TD ...

GlobalFoundries Inc. (GFS) reported $1.85 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 11.8%. EPS of $0.64 for the same period compares to $1.44 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.85 billion, representing a surprise of +0.21%. The company delivered an EPS surprise of +8.47%, with the consensus EPS estimate being $0.59.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

GlobalFoundries Inc. (GFS) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $1.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.47%. A quarter ago, it was expected that this company would post earnings of $0.50 per share when it actually produced earnings of $0.55, delivering a surprise of 10%.Over the last four quarters, the company ...

For the second year in a row, GF has earned a place on Newsweek's esteemed list of "America's Most Responsible Companies," underscoring the Company's longstanding commitment to ESG and environmentally sustainable manufacturing practices. Quarterly Revenue Trend 2,101 1,841 1,845 1,852 1,854 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 -12% Y/Y Adjusted Gross Margin Trend 30.1% 28.5% 29.6% 29.2% 29.0% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 -110 bps GlobalFoundries © 2024 All Rights Reserved 8 (Unaudited) Q4'22 Q1'23 Q2'23 Q3'23 Q4' ...

GlobalFoundries (GFS) is scheduled to report fourth-quarter 2023 results on Feb 13.For the fourth quarter, GFS expects revenues between $1.825 billion and $1.875 billion. The Zacks Consensus Estimate for sales is pegged at $1.85 billion, indicating a decline of 11.9% from the year-ago quarter’s reported value.The company anticipates earnings in the range of 53-64 cents per share. The consensus mark for the same is pegged at 59 cents per share, indicating a 59% fall from the previous-year quarter’s reported ...

GlobalFoundries Reports Fourth Quarter 2023 and Fiscal Year 2023 Financial Results Malta, New York, February 13, 2024 - GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2023. Key Fourth Quarter Financial Highlights Key Full Year 2023 Financial Highlights "In the fourth quarter, GF's dedicated teams across the world delivered financial results that exceeded the mid-point of the guidance ranges we provided in our No ...