Short Squeeze - GlobalFoundries Stock Soars On Q3 Earnings Beat, Strong Q4 Outlook

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Also Read: Taiwan Semiconductor Faces Rising Energy Costs, Potential Outages Threaten Production

Communications infrastructure & data center revenue declined 15% Y/Y to $133 million.

GlobalFoundries Inc (NASDAQ:GFS) reported a fiscal third-quarter 2024 revenue decline of 6% year-on-year to $1.74 billion, beating the analyst consensus estimate of $1.73 billion.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChinaTaiwan

Topics: Top Stories Earnings Why it's moving News Guidance GFS Trading Ideas Briefs Stories That Matter Benzinga Tech Movers

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 14:13:52 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23431952

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About Benzinga

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