Sound Earnings in Q2 2022: GlobalFoundries

- Advertisement -

Due to a sharp focus on wafer capacity for end-market applications, GlobalFoundries experienced a major earning hike for the second quarter of 2022. As per the recently released report, the company’s net revenue increased by 23% YoY, standing at $1.99 billion. Factors driving such a hike are the souring average selling price (ASP) and escalated wafer shipments.

Segment-wise details are illustrated above, showing consistent growth in revenue for five consecutive quarters. Although Smart mobile devices revenue dropped marginally, it remains the highest revenue-generating segment for GlobalFoundries.

Due to factors like better fixed cost absorption, higher ASP and an improved blend, the adjusted gross margin saw a 12% increase YoY and stood at 28%.

- Advertisement -

Given the delivery delays of wafer fab equipment, the report estimated that this year’s total gross Capex will not touch $4 billion. In H1 2022, 65% of the total wafer shipments and 90% of design wins were single-sourced. Moreover, single-source revenue in H1 2022 grew at 37% YoY, making it the highest revenue-generating sector.

It is interesting to note that in 2022 alone, the company has secured close to $6-billion incremental new LTAs with customers, with all being fully single-source businesses.
For 2022, the company hopes for wafer shipments of around 2.6 million. And for Q3 2022, the aim is to achieve 20% YoY in revenue, reaching $2.035 billion-$2.065 billion.

GlobalFoundries will enhance its market share and margins by entering new geographies and capturing a broader customer base.


 

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Crompton Greaves Starts Kitchen Appliance Manufacturing In Vadodara

0
This move aims to boost product quality and operational efficiency, enhancing the delivery of innovative, high-quality kitchen solutions to meet growing consumer demands. Crompton Greaves...

Advancing  Manufacturing Sector With New Refrigerator Plant

0
By incorporating advanced backward integration processes, this plant sets to redefine industry standards, promising improved efficiency and reduced environmental impact, while also boosting local...

EV Sales In India Fall Face First From March to April 2024

0
Electric Vehicle sales, across segments, have fallen short of the promise the sector was witnessing over the last few months. Despite the extension of FAME scheme for...

Buzz

EV Parts Maker Matel Raises $4M

0
Matel manufactures components such as power trains and motor control units for electric vehicles. In this funding round, investors included Gruhas, backed by Nikhil...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...

Ampere Teams With Qualcomm On AI, Unveils New Chip

0
Ampere Computing and Qualcomm team up to create energy-efficient AI chips, launching a data center server aimed at reducing power consumption and outpacing rivals...

Important Sectors

EV Parts Maker Matel Raises $4M

0
Matel manufactures components such as power trains and motor control units for electric vehicles. In this funding round, investors included Gruhas, backed by Nikhil...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...

Ampere Teams With Qualcomm On AI, Unveils New Chip

0
Ampere Computing and Qualcomm team up to create energy-efficient AI chips, launching a data center server aimed at reducing power consumption and outpacing rivals...

Mufin Green Finance And Roadcast Partner To Transform EV Leasing In India

0
As part of this collaboration, Mufin Green Finance will lease electric three-wheelers (e3Ws) that feature GPS-enabled technology supplied by Roadcast. Roadcast, a SaaS-based logistics automation...

Pune Startup Gives Birth To New Two-Wheeler Form Factor

0
The logistics sector has become the biggest adopter of electric vehicles in India. However, in the two-wheeler space, the attrition rate due to physical...

Manufacturing

Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...

Atul Aggarwal Named New Managing Director Of Sterling Tools

0
In his new position, Atul Aggarwal, who serves as a whole-time director as well, will lead the company's expansion and development into new verticals. Sterling...
Sona Comstar

Sona Comstar’s 3-Pronged Global Strategy To Outperform China In EV Parts Supply

0
Sona BLW Precision Forgings (Sona Comstar) has adopted a three-pronged strategy: leveraging the protectionist policies of the US and Indian governments to exclude Chinese...

Nokia Collaborates With Dixon Technologies Unit For Telecom Production

0
Dixon Technologies Vice Chairman and Managing Director Atul B. Lall mentioned that the product development is nearing completion, and they expect to begin commercial...