GlobalFoundries Q3 revenue slightly beats, adjusted profit exceeds estimates

GLOBALFOUNDRIES

04/11/2026 12:17

Overview
US semiconductor foundry's preliminary Q3 revenue rose 13% yr/yr, slightly beating analyst expectations
Adjusted EPS and net income for preliminary Q3 beat consensus
GAAP net loss driven by $441 mln non-cash charge for USG share issuance

Outlook
Globalfoundries expects Q4 2026 revenue of $2.0 bln ± $25 mln
Company sees Q4 2026 non-IFRS gross margin at 31.5% ± 100bps
Globalfoundries forecasts Q4 2026 non-IFRS diluted EPS of $0.59 ± $0.05

Result Drivers
AI APPLICATIONS - Co said record non-IFRS gross margin was driven by a richer mix of business across high-value, high-growth AI applications
GROWTH MARKETS - Co cited strong momentum in key growth markets, led by record yr/yr revenue growth in communications infrastructure and data center, as well as strong growth in Automotive and Home and Industrial IoT
STRATEGIC DIVERSIFICATION - Co said results reflect continued strategic diversification and strength of differentiated technologies, supported by recent customer and government partnerships

Company press release: ID:nGNX3ncxm7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$1.90 bln
$1.89 bln (16 Analysts)
Q3 Adjusted EPS
Beat
$0.53
$0.50 (16 Analysts)
Q3 Loss Per Share
 
$0.49
 
Q3 Adjusted Net Income
Beat
$298 mln
$285.11 mln (13 Analysts)
Q3 Net Loss
 
$270 mln
 
Q3 Adjusted EBITDA
 
$647 mln
 
Q3 Gross Margin
 
30.10%
 
Q3 Adjusted Gross Margin
 
31.40%
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"
Wall Street's median 12-month price target for GLOBALFOUNDRIES Inc. is $72.00, about 67.9% above its November 3 closing price of $42.89
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 22 three months ago

Reuters Recommended Reads
Nov 3 - Chipmaker AMD forecasts Q4 revenue above estimates on strong data center demand; shares rise
Nov 3 - Navitas Semiconductor Q3 revenue beats estimates on rising demand from AI data centers and grid infrastructure
Nov 3 - Astera Labs Q3 revenue jumps 154% on Scorpio switch ramp, design wins

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)