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GlobalFoundries (GFS) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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GlobalFoundries Inc. (GFS - Free Report) reported $1.63 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 11.5%. EPS of $0.38 for the same period compares to $0.53 a year ago.
The reported revenue represents a surprise of +0.89% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $0.29, the EPS surprise was +31.03%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how GlobalFoundries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Wafer shipments
: 517 versus the three-analyst average estimate of 486.
Net revenue- Type of goods and services- Wafer fabrication
: $1.48 billion versus $1.45 billion estimated by four analysts on average.
Net revenue by End Market- Smart Mobile Devices
: $762 million compared to the $733.15 million average estimate based on four analysts.
Net revenue by End Market- Non-Wafer and Corporate Other Revenue
: $151 million compared to the $167.47 million average estimate based on four analysts.
Net revenue by End Market- Home and Industrial IoT
: $295 million versus $304.62 million estimated by four analysts on average.
Net revenue by End Market- Automotive
: $270 million compared to the $291.13 million average estimate based on four analysts.
Net revenue by End Market- Communications Infrastructure & Datacenter
: $154 million compared to the $122.50 million average estimate based on four analysts.
Shares of GlobalFoundries have returned -16.3% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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GlobalFoundries (GFS) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
GlobalFoundries Inc. (GFS - Free Report) reported $1.63 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 11.5%. EPS of $0.38 for the same period compares to $0.53 a year ago.
The reported revenue represents a surprise of +0.89% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $0.29, the EPS surprise was +31.03%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how GlobalFoundries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for GlobalFoundries here>>>Wafer shipments
: 517 versus the three-analyst average estimate of 486.Net revenue- Type of goods and services- Wafer fabrication
: $1.48 billion versus $1.45 billion estimated by four analysts on average.Net revenue by End Market- Smart Mobile Devices
: $762 million compared to the $733.15 million average estimate based on four analysts.Net revenue by End Market- Non-Wafer and Corporate Other Revenue
: $151 million compared to the $167.47 million average estimate based on four analysts.Net revenue by End Market- Home and Industrial IoT
: $295 million versus $304.62 million estimated by four analysts on average.Net revenue by End Market- Automotive
: $270 million compared to the $291.13 million average estimate based on four analysts.Net revenue by End Market- Communications Infrastructure & Datacenter
: $154 million compared to the $122.50 million average estimate based on four analysts.Shares of GlobalFoundries have returned -16.3% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.