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BUZZ-Chipmaker GlobalFoundries rises on upbeat Q1 forecast

Reuters
Feb 11
BUZZ-Chipmaker GlobalFoundries rises on upbeat Q1 forecast

** Shares of chipmaker GlobalFoundries GFS.O rise 5.6% to $44.25 premarket after Q1 revenue and profit forecasts above estimates

** GFS expects Q1 adj. EPS of 35 cents vs analysts' average estimate of 34 cents - LSEG-compiled data

** Forecasts Q1 revenue of $1.62 bin vs expectation of $1.61 bln

** Co attributes strong execution and disciplined cost management for stronger growth

** Agreed to acquire Synopsys' Processor IP Solutions business last month

** GFS says recent acquisitions are expanding its capabilities into diversified, holistic technology solutions provider

** Co also approves a share buyback worth $500 mln

** GFS stock fell nearly 19% in 2025, up 20% this year

(Reporting by Utkarsh Tushar Hathi)

((utkarshtushar.hathi@thomsonreuters.com))

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