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GlobalFoundries (GFS) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Wall Street analysts forecast that GlobalFoundries Inc. (GFS - Free Report) will report quarterly earnings of $0.35 per share in its upcoming release, pointing to a year-over-year increase of 2.9%. It is anticipated that revenues will amount to $1.62 billion, exhibiting an increase of 2.4% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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.
Based on the collective assessment of analysts, 'Net revenue- Type of goods and services- Wafer revenue' should arrive at $1.44 billion. The estimate points to a change of +3.3% from the year-ago quarter.
The combined assessment of analysts suggests that 'Net revenue- End Markets- Smart Mobile Devices' will likely reach $584.06 million. The estimate indicates a year-over-year change of -0.3%.
The consensus estimate for 'Net revenue- End Markets- Non wafer revenue and other' stands at $185.78 million. The estimate points to a change of -1.2% from the year-ago quarter.
It is projected by analysts that the 'Net revenue- End Markets- Home and Industrial IoT' will reach $274.30 million. The estimate points to a change of -16.4% from the year-ago quarter.
The average prediction of analysts places 'Net revenue- End Markets- Automotive' at $364.12 million. The estimate indicates a year-over-year change of +17.8%.
The collective assessment of analysts points to an estimated 'Net revenue- End Markets- Communications Infrastructure & Datacenter' of $219.88 million. The estimate indicates a year-over-year change of +26.4%.
Analysts predict that the 'Wafer shipment volume' will reach 561 . Compared to the present estimate, the company reported 543 in the same quarter last year.
Shares of GlobalFoundries have demonstrated returns of +47.7% over the past month compared to the Zacks S&P 500 composite's +10.5% change. 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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GlobalFoundries (GFS) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts forecast that GlobalFoundries Inc. (GFS - Free Report) will report quarterly earnings of $0.35 per share in its upcoming release, pointing to a year-over-year increase of 2.9%. It is anticipated that revenues will amount to $1.62 billion, exhibiting an increase of 2.4% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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.
Based on the collective assessment of analysts, 'Net revenue- Type of goods and services- Wafer revenue' should arrive at $1.44 billion. The estimate points to a change of +3.3% from the year-ago quarter.
The combined assessment of analysts suggests that 'Net revenue- End Markets- Smart Mobile Devices' will likely reach $584.06 million. The estimate indicates a year-over-year change of -0.3%.
The consensus estimate for 'Net revenue- End Markets- Non wafer revenue and other' stands at $185.78 million. The estimate points to a change of -1.2% from the year-ago quarter.
It is projected by analysts that the 'Net revenue- End Markets- Home and Industrial IoT' will reach $274.30 million. The estimate points to a change of -16.4% from the year-ago quarter.
The average prediction of analysts places 'Net revenue- End Markets- Automotive' at $364.12 million. The estimate indicates a year-over-year change of +17.8%.
The collective assessment of analysts points to an estimated 'Net revenue- End Markets- Communications Infrastructure & Datacenter' of $219.88 million. The estimate indicates a year-over-year change of +26.4%.
Analysts predict that the 'Wafer shipment volume' will reach 561 . Compared to the present estimate, the company reported 543 in the same quarter last year.
View all Key Company Metrics for GlobalFoundries here>>>Shares of GlobalFoundries have demonstrated returns of +47.7% over the past month compared to the Zacks S&P 500 composite's +10.5% change. 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 >>>> .