GlobalFoundries Guides Fourth-Quarter Revenue to About $2 Billion
GFS sits 36% above its 52-week low of $32.02.
Summary
GlobalFoundries put fourth-quarter revenue at roughly $2 billion, its first formal guide for the quarter, and paired it with fourth-quarter EPS of 47 cents and adjusted EPS of 59 cents. The number lands against a stock at $43.46 and a market value near $23.5 billion, so the guide implies a quarterly revenue run-rate in line with the company's recent scale rather than a step change. The setup into this guide has been busy: a $2 billion interposer supply deal with TSMC in October, selection to operate two new Malta, NY fabs under a U.S.-Japan initiative with up to $21 billion in funding, and a $375 million Commerce Department R&D award. Those commitments add capacity and capital needs, which makes the revenue guide the first read on whether demand is filling it. The latest reported quarter came in at $1.9 billion in revenue, a loss of $270 million, or 49 cents a share, and adjusted EPS of 53 cents. Full results and the accompanying outlook will carry the margin and capex detail that determines whether the revenue level translates into earnings.
At the time of this announcement, GFS was trading at $43.46 on NASDAQ in the Technology sector, with a market capitalization of approximately $23.5B. The 52-week trading range was $32.02 to $92.55. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.