GlobalFoundries reports Q1 revenue down 16% YoY to $1.55B, vs. $1.52B est., net income of $134M, and forecasts Q2 revenue above estimates; GFS closes up 7.1% (Aditya Soni/Reuters)

Posted on May 7, 2024
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Aditya Soni / Reuters:
GlobalFoundries reports Q1 revenue down 16% YoY to $1.55B, vs. $1.52B est., net income of $134M, and forecasts Q2 revenue above estimates; GFS closes up 7.1% — GlobalFoundries (GFS.O) forecast second-quarter revenue above Wall Street estimates on Tuesday, betting on improving demand …

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