GlobalFoundries Reports Third Quarter 2024 Financial Results

(4) Included in net income is net interest income and other income and expense which we estimate will be between $7 and $15 million for the fourth quarter 2024. Also included in net income is income tax expense which we estimate will be between $23 million and $35 million for the fourth quarter 2024.

 
Consolidated Statements of Operations
(Unaudited, in millions, except for per share amounts)
 
   Three Months Ended
   September 30, 2024  September 30, 2023
     
Net revenue  $ 1,739   $ 1,852 
Cost of revenue  1,325   1,323 
Gross profit  $ 414   $ 529 
Operating expenses:    
Research and development  130   108 
Selling, general and administrative(1)  98   143 
Restructuring charges  1   17 
Total operating expenses  $ 229   $ 268  
Operating profit   $ 185     $ 261  
Finance income (expense), net     15       3  
Other income (expense)     (5 )     (21 )
Income tax expense     (17 )     6  
Net income   $ 178     $ 249  
Attributable to:        
Shareholders of GlobalFoundries     177       249  
Non-controlling interest     1        
EPS:        
Basic   $ 0.32     $ 0.45  
Diluted   $ 0.32     $ 0.45  
Shares used in EPS calculation:        
Basic     552       553  
Diluted     555       556  
                 

<

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise