GlobalFoundries increased revenue 37 to 194 billion
Hardware

GlobalFoundries increased revenue 37% to $1.94 billion

Founded in March 2009 in AMD’s German production facilities, GlobalFoundries only went public in October last year, which allows us to roughly estimate the current scope of the business based on quarterly reports. In its most recent quarter, for example, it generated $1.94 billion in revenue, up 37% in its profile and beating analysts’ expectations.

    Image source: GlobalFoundries

Image source: GlobalFoundries

How clarified Bloomberg, earnings per share came in at 42 cents versus 24 cents expected by investors and this is a definite achievement. In the current quarter, the company expects earnings per share to be between $1.96 billion and $1.99 billion, between 43 and 48 cents. Analysts had expected the company to forecast revenue of $1.93 billion and earnings per share of 26 cents. The company’s stock price rose less than 1 percent after the quarterly report was released. Since the beginning of the year, they have fallen 19% in price along with the rest of the tech sector.

Remember that GlobalFoundries finances the construction of new production lines through upfront payments from its customers. Interested parties who wanted to participate in the company’s investment program were found among the car manufacturers. The company is also anticipating defensive orders in the USA, since the concentration of the majority of shares in the hands of Arab investors does not prevent it from being formally considered an American contract manufacturer of semiconductor products.

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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