GlobalFoundries Posts $270 Million Q3 Loss After $441 Million Charge
Photo: TokenPost
GlobalFoundries swung to a $270 million third-quarter IFRS net loss after a $441 million noncash share-issuance expense, while revenue advanced 13% year over year to $1.899 billion. The company posted a loss of 49 cents per share. That compared with net income of $249 million a year earlier and $167 million in the second quarter. Revenue also increased 6% from the previous quarter. The expense was tied to 9.9 million ordinary shares issued to the U.S. government under a Sept. 3 agreement with the U.S. Department of Commerce. The shares were priced at $37.85 each.
Source: TokenPost
