GlobalFoundries Expects Q3 Net Revenue Of $1.70B-$1.75B Vs $1.62B Est, Adj EPS Of $0.28-$0.38 Vs $0.28 Est
Portfolio Pulse from Benzinga Newsdesk
GlobalFoundries has provided its third-quarter 2024 guidance, expecting net revenue between $1.70 billion and $1.75 billion, surpassing the estimated $1.62 billion. The company also anticipates adjusted EPS to be in the range of $0.28 to $0.38, compared to the estimated $0.28.
August 06, 2024 | 11:09 am
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GlobalFoundries has provided a positive third-quarter 2024 guidance, with net revenue expected to be between $1.70 billion and $1.75 billion, surpassing the estimated $1.62 billion. The company also anticipates adjusted EPS to be in the range of $0.28 to $0.38, compared to the estimated $0.28.
The guidance provided by GlobalFoundries indicates a stronger-than-expected financial performance for Q3 2024. The net revenue and adjusted EPS both exceed market estimates, which is likely to positively impact the stock price in the short term.
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