GlobalFoundries Inc (NASDAQ:GFS) stock gained after it reported fiscal first-quarter 2026 results on Tuesday.
The company reported a revenue of $1.634 billion, up 3% year-over-year, topping the analyst consensus estimate of $1.627 billion.
The contract chipmaker’s adjusted EPS of 40 cents beat the analyst consensus estimate of 34 cents.
Segment Highlights
Smart mobile device revenue declined 5% from a year ago to $558 million. Communications infrastructure & data center revenue grew 32% Y/Y to $230 million. Home and industrial IOT revenue decreased 22% Y/Y to $255 million.
Automotive revenue rose 24% Y/Y to $382 million. Technology services revenue grew 11% Y/Y to $209 million.
The 300nm wafer shipments increased 7% year-over-year to 579,000.
Margins and Buyback
The adjusted gross margin rose to 29.0% from 23.9% Y/Y. The adjusted operating margin increased to 16.6% from 13.4% Y/Y, but the …