TECH - Why Is GlobalFoundries Stock Sliding On Tuesday? | Benzinga
GlobalFoundries Inc (NASDAQ:GFS) stock dropped after it reported its quarterly earnings Tuesday.
The Malta, New York-based company clocked a fourth-quarter fiscal year 2023 revenue decline of 12% year-on-year to $1.854 billion, beating the consensus of $1.851 billion.
The semiconductor manufacturer’s adjusted EPS of 64 cents beat the consensus of $0.58.
The adjusted gross margin declined by 110 bps to 29%, and the ...