GlobalFoundries reports Q3 EPS 44c, consensus 38c

Reports Q3 revenue $1.688B, consensus $1.68B. “GF delivered a strong third quarter, with revenue, gross margin, operating margin, and earnings per share at the high end of the guidance ranges,” said Tim Breen, CEO of GF. “For the fourth consecutive quarter, we saw strong year-over-year revenue growth in both our Automotive and Communications Infrastructure and Data Center end markets. Gross margin expanded sequentially and year over year in the third quarter, as we continue to drive the product mix and profitability of our business. We are also encouraged by the momentum we are seeing with customers across key growth applications, such as our silicon photonics and FDX platforms.”