GlobalFoundries reports Q1 revenue up 3% YoY to $1.63B, in line with est., and forecasts Q2 revenue and adjusted earnings above estimates; GFS closes up 9.28%
Contract chipmaker GlobalFoundries (GFS) on Tuesday beat earnings estimates on in-line sales for the first quarter.
GlobalFoundries 1Q26 - Revenue down -11% q/q and up +3% y/y to $1.63B at 29% GM; QJun revenue to grow 8% q/q; 1H26 tracking 4% y/y - Except for smartphones, all other end markets up y/y - 15-20% capex intensity in '26 vs 8% in '25 - SiPh will double in '26, a key driver - Auto [i…