GLOBALFOUNDRIES Inc. (GFS) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $211 million, or $0.38 per share. This compares with $134 million, or $0.24 per share, last year.
Excluding items, GLOBALFOUNDRIES Inc. reported adjusted earnings of $189 million or $0.34 per share for the period.
Analysts on average had expected the company to earn $0.29 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 2.3% to $1.585 billion from $1.549 billion last year.
GLOBALFOUNDRIES Inc. earnings at a glance (GAAP) :
-Earnings: $211 Mln. vs. $134 Mln. last year.
-EPS: $0.38 vs. $0.24 last year.
-Revenue: $1.585 Bln vs. $1.549 Bln last year.
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