This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
GlobalFoundries earned $1.6 billion in first-quarter 2026 revenue, down 11% from Q4 2025 and up 3.1% year over year.
Results were driven by the manufacturing services sector as the company shipped about 579,000 300-millimeter-equivalent wafers in the quarter, up 7% from the prior-year period, CFO Sam Franklin said on an earnings call May 5.
The results "demonstrate a strong step forward in our multiyear journey to enhance the quality of our revenue composition, improve our structural cost position and achieve efficient scale across our world-class fabs,” CEO and Director Timothy Breen said on the call.
