👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
GlobalFoundries forecasts lower Q1 revenue over tariffs
GlobalFoundries, a United States contract chipmaker, has projected lower first-quarter revenue and profit due to ongoing industry challenges.
These challenges include potential impacts from tariffs affecting the automotive sector and pressures in the smartphone market.
The company expects first-quarter revenue between US$1.55 billion and US$1.60 billion, which is below analyst estimates of US$1.66 billion, according to LSEG data.
Adjusted earnings per share are forecasted to be between 24 cents and 34 cents, with the midpoint slightly below the expected 32 cents per share.
Recent GlobalFoundries developments
| Timeline |
|---|
21-Nov-2024 💻 US backs GlobalFoundries with $1.5b for automotive chips
|
07-Nov-2024 💡 TSMC, GlobalFoundries edge closer to US Chip Act awards
|
04-Nov-2024 💼 GlobalFoundries fined $500k over China chip exports
|
26-Sep-2023 🏭 Chipmaker GlobalFoundries launches Malaysia office
|
12-Sep-2023 🏭 GlobalFoundries opens $4b semiconductor plant in Singapore
|
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.