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 | 11:51 am
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GLOBALFOUNDRIES reported a Q4 adjusted EPS of $0.64, beating estimates, and sales of $1.85B, slightly above expectations, despite year-on-year declines.
Beating both EPS and sales estimates typically has a positive short-term impact on a company's stock price, as it indicates better-than-expected financial health and operational efficiency. However, the significant year-on-year declines in both EPS and sales might temper investor enthusiasm, suggesting a cautious optimism.
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