GlobalFoundries Inc · Q1 2026 earnings

Briefing

GlobalFoundries Q1 2026: $1.63B revenue (+3.1% YoY), automotive and datacenter strength offset mobile weakness

GlobalFoundries reported first-quarter 2026 net revenue of $1.63 billion, up 3.1% year over year on 6.6% higher wafer shipment volumes and stronger technology services, partly offset by lower average selling prices in select end markets. Gross margin expanded 520 basis points to 27.6% as cost of revenue fell 3.8%, and operating income rose to $180 million from $151 million. Net income was $104 million, or $0.18 diluted EPS, compared with $211 million and $0.38 a year earlier, reflecting a higher tax expense. Automotive revenue grew 23.6% and communications infrastructure & datacenter rose 32.2%, while smart mobile and home/industrial IoT declined.

• Net revenue of $1.63B rose 3.1% YoY on 579k 300mm-equivalent wafer shipments (+6.6%) and 11.2% growth in technology services.
• Gross margin improved to 27.6% from 22.4% as cost of revenue fell to $1.18B; operating income increased to $180M.
• Automotive revenue grew 23.6% and communications infrastructure & datacenter grew 32.2%; smart mobile fell 4.8% and home/industrial IoT fell 22.3%.
• Net income was $104M ($0.18 diluted EPS) versus $211M ($0.38) in Q1 2025, with income tax expense of $81M versus a $16M benefit last year.
• Manufacturing services revenue reached $1.43B while technology services contributed $209M across smart mobile, automotive, IoT and datacenter end markets.

Headline financials

Revenue & EPS history