GlobalFoundries reports Q3 revenue down 6% YoY to $1.7B and expects Q4 revenue of $1.8B-$1.85B, vs. $1.8B est., driven by smartphone chip demand; GFS jumps 11%+ (Harshita Mary Varghese/Reuters) 05-11-2024

Harshita Mary Varghese / Reuters:
GlobalFoundries reports Q3 revenue down 6% YoY to $1.7B and expects Q4 revenue of $1.8B-$1.85B, vs. $1.8B est., driven by smartphone chip demand; GFS jumps 11%+ — World’s third-largest contract chipmaker, GlobalFoundries (GFS.O), forecast fourth-quarter revenue above Wall Street estimates on Tuesday …