Globalfoundries Q2 revenue beats analyst estimates
Globalfoundries Q2 revenue beats analyst estimates
Overview
U.S. semiconductor maker's preliminary Q2 revenue grew 6% yr/yr, beating analyst expectations
Adjusted EPS for preliminary Q2 beat analyst expectations
Company completed acquisitions of Photeon Technologies IVR and Synopsys’ ARC Processor IP businesses
Outlook
Company expects Q3 2026 non-IFRS gross margin of 30.5% ± 100bps
Globalfoundries expects Q3 2026 non-IFRS diluted EPS of $0.51 ± $0.05
Result Drivers
AI DATA CENTER DEMAND - Co said strong momentum and accelerating customer demand in optical networking for AI data centers drove revenue growth
TECHNOLOGY ACQUISITIONS - Co completed acquisitions of Photeon Technologies IVR and Synopsys’ ARC Processor IP businesses, expanding capabilities in power delivery and RISC-V solutions
Company press release: ID:nGNX6d01P3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.79 bln | $1.76 bln (15 Analysts) |
Q2 Adjusted EPS | Beat | $0.46 | $0.44 (14 Analysts) |
Q2 EPS |
| $0.30 |
|
Q2 Adjusted Net Income | Beat | $256 mln | $240.15 mln (12 Analysts) |
Q2 Net Income |
| $167 mln |
|
Q2 Adjusted EBITDA |
| $587 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 8 "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 $80.00, about 53.8% above its August 4 closing price of $52.02
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 33 three months ago
Reuters Recommended Reads
Aug 3 - Onsemi forecasts upbeat revenue on surging AI data center chip demand
Aug 4 - Lattice Semiconductor Q2 profit beats estimates on AI-related server demand
Aug 5 - Germany's Infineon Q3 revenue rises on strong AI data center demand
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.)