GlobalFoundries Inc reports results for the quarter ended March 31 - Earnings Summary

• GlobalFoundries Inc GFS.OQ reported quarterly adjusted earnings of 34 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 31 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 28 cents per share. Wall Street expected results to range from 19 cents to 31 cents per share.

• Revenue rose 2.3% to $1.59 billion from a year ago; analysts expected $1.58 billion.

• GlobalFoundries Inc's reported EPS for the quarter was 38 cents​.

• The company reported quarterly net income of $210 million.

• GlobalFoundries Inc shares had fallen by 2.8% this quarter and lost 16.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 11.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy," 8 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the semiconductor equipment & testing peer group is also "buy"

• Wall Street's median 12-month price target for GlobalFoundries Inc is $46.50

This summary was machine generated from LSEG data May 6 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)