Analysts on Wall Street project that GlobalFoundries Inc. (GFS) will announce quarterly earnings of $0.47 per share in its forthcoming report, representing an increase of 2.2% year over year. Revenues are projected to reach $1.8 billion, declining 1.5% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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 fabrication' should arrive at $1.57 billion. The estimate indicates a year-over-year change of -6.4%.
According to the collective judgment of analysts, 'Net revenue- End Market- Smart Mobile Devices' should come in at $686.84 million. The estimate points to a change of -6.9% from the year-ago quarter.
Analysts forecast 'Net revenue- End Market- Non wafer revenue' to reach $233.10 million. The estimate points to a change of +52.4% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net revenue- End Market- Home and Industrial IoT' of $282.09 million. The estimate suggests a change of -20.5% year over year.
The consensus among analysts is that 'Net revenue- End Market- Automotive' will reach $417.30 million. The estimate indicates a year-over-year change of +0.8%.
Analysts predict that the 'Net revenue- End Market- Communications Infrastructure & Datacenter' will reach $183.39 million. The estimate indicates a year-over-year change of +7.9%.
The combined assessment of analysts suggests that 'Wafer shipment volume' will likely reach 624 . Compared to the current estimate, the company reported 595 in the same quarter of the previous year.
View all Key Company Metrics for GlobalFoundries here>>>
Over the past month, GlobalFoundries shares have recorded returns of +5.3% versus the Zacks S&P 500 composite's -1.5% change. Based on its Zacks Rank #3 (Hold), GFS will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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GlobalFoundries Inc. (GFS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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