GlobalFoundries Inc. has filed its quarterly report on Form 6-K with the United States Securities and Exchange Commission for the second quarter of 2024. The report, signed by Chief Financial Officer John Hollister on August 6, 2024, includes unaudited interim condensed consolidated financial statements for the period ending June 30, 2024. The financial statements reveal a net revenue of $1.632 billion for the quarter, a decrease from $1.845 billion in the same period the previous year. The company's net income for the quarter was $155 million, down from $237 million in the prior year. The report also includes comprehensive income statements, changes in equity, and cash flow statements. GlobalFoundries' total assets stood at $17.927 billion, with total liabilities of $6.628 billion and total equity of $11.299 billion. The company's cash...Show More

GlobalFoundries Inc. has filed its quarterly report on Form 6-K with the United States Securities and Exchange Commission for the second quarter of 2024. The report, signed by Chief Financial Officer John Hollister on August 6, 2024, includes unaudited interim condensed consolidated financial statements for the period ending June 30, 2024. The financial statements reveal a net revenue of $1.632 billion for the quarter, a decrease from $1.845 billion in the same period the previous year. The company's net income for the quarter was $155 million, down from $237 million in the prior year. The report also includes comprehensive income statements, changes in equity, and cash flow statements. GlobalFoundries' total assets stood at $17.927 billion, with total liabilities of $6.628 billion and total equity of $11.299 billion. The company's cash and cash equivalents decreased from $2.387 billion at the end of 2023 to $2.184 billion as of June 30, 2024. The report also details the company's restructuring charges, lease obligations, long-term debt, and related party transactions. Additionally, the company announced a share repurchase from its majority shareholder, MTIC, involving 3.9 million ordinary shares at $50.75 per share, totaling $200 million, which were subsequently canceled.