GlobalFoundries Q4 Results Top Estimates; Guides Q1 In Line With View

RTTNews | 982 days ago
GlobalFoundries Q4 Results Top Estimates; Guides Q1 In Line With View

(RTTNews) - GlobalFoundries, Inc. (GFS) reported Tuesday that net income attributable to the company soared to $668 million or $1.21 per share from $44 million or $0.08 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.44 per share, compared to $0.67 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the quarter increased 14 percent to $2.10 billion from $2.07 billion in the same quarter last year. The Street expected revenues of $2.08 billion for the quarter.

Looking ahead to the first quarter, the company now projects earnings in a range of $0.36 to $0.46 per share and adjusted earnings in a range of $0.45 to $0.53 per share on net revenues between $1.81 billion and $1.85 billion.

The Street is looking for earnings of $0.45 per share on revenues of $1.83 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
European Economic News Preview: Eurozone Flash PMI Data Due

European Economic News Preview: Eurozone Flash PMI Data Due

Flash Purchasing Managers' survey results from the euro area and the UK are due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK retail sales data for September. Sales are forecast to fall 0.2 percent on a monthly basis, reversing a 0.5 percent rise in August.
RTTNews | 7 minutes ago
Sensex, Nifty Struggle For Direction In Early Trade

Sensex, Nifty Struggle For Direction In Early Trade

Indian shares struggled for direction on Friday amid concerns that soaring crude oil prices on fears of supply disruptions would result in higher input costs for Indian refiners that have been key buyers of discounted Russian crude since 2022.
RTTNews | 15 minutes ago
Australian Market Slips To Modest Losses In Mid-market

Australian Market Slips To Modest Losses In Mid-market

The Australian market is slipping to modest losses in mid-market moves on Friday after opening in the green, giving up some of the gains in the previous session, despite the positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 9,050 level, with weakness in gold miners and financial stocks partially offset by gains in iron ore miners and technology stocks.
RTTNews | 1h 22min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, amid easing trade tensions between the U.S. and China after US President Donald Trump and Chinese President Xi Jinping agreed to meet to resolve tariff issues. Optimism about interest rate cut by the US Fed later this week is also aiding market sentiment. Asian markets ended mix
RTTNews | 1h 50min ago
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares look set to open on a positive note Friday, tracking firm cues from global markets. That said, surging oil prices amid supply fears may lead to some volatility as the session progresses.
RTTNews | 2h 20min ago
Thai Stock Market May Extend Winning Streak

Thai Stock Market May Extend Winning Streak

Ahead of Thursday's holiday for Chulalongkorn, the Thai stock market had finished higher in three straight sessions, gathering almost 30 points or 2.2 percent in that span. The Stock Exchange of Thailand now sits just above the 1,300-point plateau and it's called higher again on Friday.
RTTNews | 2h 59min ago
Japanese Market Significantly Higher

Japanese Market Significantly Higher

Reversing the losses in the previous two sessions, the Japanese market is significantly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 49,150 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.
RTTNews | 3h 26min ago
Additional Support Expected For Indonesia Shares

Additional Support Expected For Indonesia Shares

The Indonesia stock market bounced higher again on Thursday, one day after ending the two-day winning streak in which it had jumped more than 310 points or 3.9 percent. The Jakarta Composite Index now rests just above the 8,270-point plateau and it's tipped to open to the upside again on Friday.
RTTNews | 3h 29min ago