GLOBALFOUNDRIES Q3 Adj EPS $0.55 Beats $0.49 Estimate, Sales $1.85B Beat $1.85B Estimate
Portfolio Pulse from Benzinga Newsdesk
GLOBALFOUNDRIES (NASDAQ:GFS) reported Q3 earnings of $0.55 per share, beating the analyst consensus estimate of $0.49 by 12.24%. However, this is a 17.91% decrease from the same period last year. The company also reported quarterly sales of $1.85 billion, slightly beating the estimate of $1.85 billion by 0.11%, but this is a 10.70% decrease from last year.
November 07, 2023 | 12:01 pm
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NEUTRAL IMPACT
GLOBALFOUNDRIES beat Q3 earnings and sales estimates, but both figures are down from the same period last year.
While GLOBALFOUNDRIES beat Q3 earnings and sales estimates, the decrease from the same period last year could potentially offset any positive impact from beating estimates. This mixed result makes the short term price direction uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100