GLOBALFOUNDRIES Q1 2024 Adj EPS $0.31 Beats $0.23 Estimate, Sales $1.549B Beat $1.523B Estimate
Portfolio Pulse from Benzinga Newsdesk
GLOBALFOUNDRIES (NASDAQ:GFS) reported Q1 2024 adjusted EPS of $0.31, surpassing the $0.23 estimate, with sales of $1.549B also beating the $1.523B estimate. However, this represents a 15.86% decrease in sales compared to the same period last year.

May 07, 2024 | 11:02 am
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GLOBALFOUNDRIES reported a strong Q1 2024 performance with earnings and sales exceeding estimates, though sales dropped 15.86% from last year.
Beating both EPS and sales estimates typically has a positive impact on stock price in the short term, signaling better-than-expected financial health. However, the significant year-over-year sales decrease might temper investor enthusiasm, suggesting a cautious optimism.
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