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Unveiling GlobalFoundries (GFS) Q3 Outlook: Wall Street Estimates for Key Metrics
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Wall Street analysts forecast that GlobalFoundries Inc. (GFS - Free Report) will report quarterly earnings of $0.38 per share in its upcoming release, pointing to a year-over-year decline of 7.3%. It is anticipated that revenues will amount to $1.68 billion, exhibiting a decrease of 3.7% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some GlobalFoundries metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Net revenue- Type of goods and services- Wafer fabrication' will reach $1.49 billion. The estimate points to a change of -4.6% from the year-ago quarter.
The consensus among analysts is that 'Net revenue- End Market- Smart Mobile Devices' will reach $669.73 million. The estimate indicates a year-over-year change of -22.8%.
The consensus estimate for 'Net revenue- End Market- Non wafer revenue' stands at $199.97 million. The estimate indicates a change of +14.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Net revenue- End Market- Home and Industrial IoT' of $274.00 million. The estimate indicates a year-over-year change of -11%.
Analysts expect 'Net revenue- End Market- Automotive' to come in at $367.06 million. The estimate suggests a change of +43.4% year over year.
The average prediction of analysts places 'Net revenue- End Market- Communications Infrastructure & Datacenter' at $181.79 million. The estimate indicates a change of +36.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Wafer shipment volume' will likely reach 577 . The estimate compares to the year-ago value of 549 .
Shares of GlobalFoundries have experienced a change of -2.6% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GFS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Unveiling GlobalFoundries (GFS) Q3 Outlook: Wall Street Estimates for Key Metrics
Wall Street analysts forecast that GlobalFoundries Inc. (GFS - Free Report) will report quarterly earnings of $0.38 per share in its upcoming release, pointing to a year-over-year decline of 7.3%. It is anticipated that revenues will amount to $1.68 billion, exhibiting a decrease of 3.7% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some GlobalFoundries metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Net revenue- Type of goods and services- Wafer fabrication' will reach $1.49 billion. The estimate points to a change of -4.6% from the year-ago quarter.
The consensus among analysts is that 'Net revenue- End Market- Smart Mobile Devices' will reach $669.73 million. The estimate indicates a year-over-year change of -22.8%.
The consensus estimate for 'Net revenue- End Market- Non wafer revenue' stands at $199.97 million. The estimate indicates a change of +14.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Net revenue- End Market- Home and Industrial IoT' of $274.00 million. The estimate indicates a year-over-year change of -11%.
Analysts expect 'Net revenue- End Market- Automotive' to come in at $367.06 million. The estimate suggests a change of +43.4% year over year.
The average prediction of analysts places 'Net revenue- End Market- Communications Infrastructure & Datacenter' at $181.79 million. The estimate indicates a change of +36.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Wafer shipment volume' will likely reach 577 . The estimate compares to the year-ago value of 549 .
View all Key Company Metrics for GlobalFoundries here>>>Shares of GlobalFoundries have experienced a change of -2.6% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GFS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .