GlobalFoundries, Inc.: Automotive & Industrial IoT Integration As A Critical Growth Lever! 

GlobalFoundries’ third-quarter fiscal year 2024 results provide a comprehensive overview of its financial performance and strategic initiatives. The company reported revenue of $1.739 billion for the quarter, reflecting a 7% sequential growth, albeit a 6% decline year-over-year. This revenue growth is commendable given the challenging industry conditions with lower factory utilization levels around mid-70s. Despite these challenges, GlobalFoundries achieved non-IFRS gross margins of 24.7%, slightly exceeding the midpoint of its guidance, which underscores stable operational efficiency.