GlobalFoundries Inc. (GFS) reported $1.74 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 6.1%. EPS of $0.41 for the same period compares to $0.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.73 billion, representing a surprise of +0.78%. The company delivered an EPS surprise of +24.24%, with the consensus EPS estimate being $0.33.
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 shipment volume: 549 compared to the 534 average estimate based on four analysts.
- Net revenue- Type of goods and services- Wafer fabrication: $1.57 billion versus the five-analyst average estimate of $1.53 billion.
- Net revenue by End Market- Smart Mobile Devices: $868 million compared to the $796.60 million average estimate based on five analysts.
- Net revenue by End Market- Non wafer revenue and other: $174 million compared to the $186.61 million average estimate based on five analysts.
- Net revenue by End Market- Home and Industrial IoT: $308 million versus the five-analyst average estimate of $301.15 million.
- Net revenue by End Market- Automotive: $256 million compared to the $290.94 million average estimate based on five analysts.
- Net revenue by End Market- Communications Infrastructure & Datacenter: $133 million versus the five-analyst average estimate of $151.10 million.
Shares of GlobalFoundries have returned -9.4% over the past month versus the Zacks S&P 500 composite's -0.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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