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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

Author: Benzinga Newsdesk | August 06, 2024 07:09am
Summary of Third Quarter 2024 Guidance (unaudited in millions USD, except per share amounts)(1)
IFRS Share-based compensation Non-IFRS (2)
Net revenue $1,700 - $1,750 — $1,700 - $1,750
Gross profit $376 - $425 $13 - $15 $391 - $438
Gross margin(3) (mid-point) 23.2% 24.0%
Operating profit $116 - $193 $45 - $55 $171 - $238
Operating margin(3) (mid-point) 9.0% 11.9%
Net income (4) $100 - $169 $45 - $55 $155 - $214
Net income margin(3) (mid-point) 7.8% 10.7%
Diluted EPS $0.18 - $0.30 $0.28 - $0.38

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