GLOBALFOUNDRIES Q4 Adj EPS $0.64 Beats $0.58 Estimate, Sales $1.85B Beat $1.85B Estimate
Portfolio Pulse from Benzinga Newsdesk
GLOBALFOUNDRIES (NASDAQ:GFS) reported Q4 adjusted EPS of $0.64, surpassing the $0.58 estimate, and sales of $1.85B, slightly above the $1.85B estimate. This represents a 55.56% decrease in EPS and an 11.76% decrease in sales from the same period last year.
February 13, 2024 | 11:50 am
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GLOBALFOUNDRIES reported a Q4 adjusted EPS of $0.64, beating estimates, with sales of $1.85B also exceeding expectations. However, both EPS and sales saw significant decreases from the previous year.
The positive earnings and sales beat are likely to have a short-term positive impact on GFS's stock price, despite the year-on-year decreases. The beat on both top and bottom lines indicates operational efficiency and could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100