GLOBALFOUNDRIES INC Reports FY2023 Q3 Earnings Results for September 30 2023

🌥️Earnings Overview

On November 7 2023, GLOBALFOUNDRIES INC ($NASDAQ:GFS) reported their earnings results for the third quarter of fiscal year 2023 (ended September 30 2023). The company recorded total revenue of USD 1852.0 million, a 10.7% drop from the same period in the prior year. Net income was reported to be USD 249.0 million, a decrease of 26.1% year-over-year.

Stock Price

GLOBALFOUNDRIES INC stock opened at $54.5 and closed at $54.3, representing a rise of 5.1% from its last closing price of $51.7. This impressive surge can be attributed to the strong performance of the company’s third quarter earnings. The company’s revenue grew by a relatively larger margin of 11% as compared to the same period last year.

Overall, the strong performance of GLOBALFOUNDRIES INC in the third quarter of FY2023 has resulted in an impressive 5.1% surge in its stock prices by the end of the day on Tuesday. The increased revenue and profitability along with better management of the company’s finances are positive indicators for a brighter future of the company. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Globalfoundries Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Globalfoundries Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Globalfoundries Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Globalfoundries Inc are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of GLOBALFOUNDRIES INC‘s financials. According to our Star Chart, GLOBALFOUNDRIES INC has a high health score of 8/10, indicating it is capable to sustain future operations in times of crisis. We have classified it as ‘rhino’ which suggests that the company has achieved moderate revenue or earnings growth. Investors who may be interested in GLOBALFOUNDRIES INC are those who are looking for a stable yet profitable company. GLOBALFOUNDRIES INC is strong in its asset, growth, and profitability but weak in its dividend. This makes it a suitable target for those who want to invest in long-term growth and don’t need a high dividend yield. More…

Peers

With the technological advances in the semiconductor industry, the competition between foundries has become increasingly fierce. GLOBALFOUNDRIES Inc, a leading foundry company, has been locked in a battle with its competitors, Advanced Micro Devices Inc, Taiwan Semiconductor Manufacturing Co Ltd, and Intel Corp. In order to maintain its competitive edge, GLOBALFOUNDRIES has made significant investments in cutting-edge manufacturing technologies and has been aggressively expanding its production capacity.

– Advanced Micro Devices Inc ($NASDAQ:AMD)

Advanced Micro Devices, Inc. (AMD) is an American multinational semiconductor company based in Santa Clara, California, that develops computer processors and related technologies for business and consumer markets. AMD’s main products include microprocessors, motherboard chipsets, embedded processors and graphics processors for servers, workstations and personal computers, and embedded systems applications.

As of 2022, AMD has a market cap of $93.57 billion and a return on equity (ROE) of 4.13%. The company’s products are used in a variety of electronic devices, including personal computers, game consoles, and servers. AMD is a leading supplier of microprocessor technology for the PC market.

– Taiwan Semiconductor Manufacturing Co Ltd ($TWSE:2330)

Taiwan Semiconductor Manufacturing Co Ltd is a semiconductor foundry. The company has a market cap of 10.29T as of 2022 and a Return on Equity of 22.34%. Taiwan Semiconductor Manufacturing Co Ltd is the world’s largest dedicated semiconductor foundry and one of the largest fabless semiconductor companies. The company offers a comprehensive set of IC design enablement tools, libraries, IPs, design services, advanced packaging, test and yield optimization solutions to help customers accelerate time-to-market.

– Intel Corp ($NASDAQ:INTC)

Intel Corp. is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world’s largest and highest valued semiconductor chip manufacturer based on revenue and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactures motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.

The company’s market cap is $108.48B as of 2022 and has a return on equity of 19.16%. Intel Corp is a technology company that designs and manufactures computer processors and other components. The company is headquartered in Santa Clara, California, in the Silicon Valley.

Summary

GLOBALFOUNDRIES INC reported their third-quarter earnings on November 7th, 2023, showing a 10.7% decrease in total revenue from the same quarter last year. Net income decreased 26.1% year-over-year, amounting to USD 249.0 million. Despite this, GLOBALFOUNDRIES stock price rose the same day. Investors may consider the company’s long-term performance, as this could be a sign of a rebound from previous losses.

It is also important to review the company’s financials and market position to assess its overall potential for further growth. Further research into the company’s management, industry development, and competitive landscape can provide insight into the likelihood of future profitability.