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GlobalFoundries | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Nov 5 07:16

Summary by Moomoo AI

GlobalFoundries Inc. (GF), a leading semiconductor manufacturer, reported its financial results for the third quarter of 2024 on November 5, 2024. The company announced a revenue of $1.739 billion, a gross margin of 23.8%, and a net income of $178 million. Non-IFRS measures, which exclude certain non-cash charges and infrequent gains or losses, showed a gross margin of 24.7%, an operating margin of 13.6%, and a net income of $229 million. The company also highlighted a Non-IFRS adjusted EBITDA of $627 million and cash reserves totaling $4.3 billion. Year to date, the net cash provided by operating activities reached $1,265 million, with a Non-IFRS adjusted free cash flow of $779 million. Dr. Thomas Caulfield, President and CEO, noted that GF is on track to achieve a significant increase in...Show More
GlobalFoundries Inc. (GF), a leading semiconductor manufacturer, reported its financial results for the third quarter of 2024 on November 5, 2024. The company announced a revenue of $1.739 billion, a gross margin of 23.8%, and a net income of $178 million. Non-IFRS measures, which exclude certain non-cash charges and infrequent gains or losses, showed a gross margin of 24.7%, an operating margin of 13.6%, and a net income of $229 million. The company also highlighted a Non-IFRS adjusted EBITDA of $627 million and cash reserves totaling $4.3 billion. Year to date, the net cash provided by operating activities reached $1,265 million, with a Non-IFRS adjusted free cash flow of $779 million. Dr. Thomas Caulfield, President and CEO, noted that GF is on track to achieve a significant increase in year-over-year Non-IFRS adjusted free cash flow by the end of 2024. The report also covered recent business developments, including a new collaboration with NXP Semiconductors leveraging GF's 22FDX process technology, a strategic agreement with Finwave Semiconductor, and the success of GF’s annual Technology Summit. Looking ahead, GF provided guidance for the fourth quarter of 2024, expecting net revenue between $1.800 and $1.850 billion and a Non-IFRS gross margin at the midpoint of 25.0%.

This announcement is a separate document:

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