The company reported a revenue of $1.634 billion, up 3% year-over-year.

The company reported a revenue of $1.634 billion, up 3% year-over-year, topping the analyst consensus estimate of $1.627 billion. The contract chipmaker’s adjusted EPS of 40 cents beat the analyst consensus estimate of 34 cents. Segment Highlights Smart mobile device revenue declined 5% from a year ago to $558 million. Communications infrastructure & data center revenue grew 32% Y/Y to $230 million. Home and industrial IOT revenue decreased 22% Y/Y to $255 million. Automotive revenue rose 24% Y/Y to $382 million. Technology services revenue grew 11% Y/Y to $209 million. The 300nm wafer shipments increased 7% year-over-year to 579,000. Margins and Buyback The adjusted gross margin rose to 29.0% from 23.9% Y/Y. The adjusted operating margin increased to 16.6% from 13.4% Y/Y, but the adjusted EBITDA margin declined to 34.3% from 35.2% Y/Y. As of March 31, 2026, GlobalFoundries generated $542 million in operating cash flow and held $3.8 billion in cash and equivalents. CEO Tim Breen said GlobalFoundries delivered a strong first-quarter, with profitability metrics at or above guidance, driven by execution and a better revenue mix. He highlighted double-digit growth in automotive and communications infrastructure/data center, and said optical networking, silicon photonics, and silicon germanium are key long-term growth drivers. Partnerships And Customer Momentum Breen said GlobalFoundries increased design wins by 50% year over year and expanded key partnerships with companies including Renesas, Bosch, Apple, Inova, SENKO, Corning, EXFO, and Silic Tech. He said demand for silicon photonics remains strong, with the company on track to roughly double that revenue in 2026 and reach a revenue run rate above $1 billion exiting 2028. Financials And Capital Strategy CFO Sam Franklin sees full-year margin expansion supported by richer mix, cost controls, and higher-value technology services. He added that the company will keep capital spending disciplined, prioritizing areas such as silicon photonics, FDX, and high-performance SiGe where customer demand is strong. Outlook GlobalFoundries expects second-quarter revenue of $1.735 billion-$1.785 billion versus the $1.743 billion analyst consensus estimate. The company expects adjusted EPS of 38 cents to 48 cents versus the 40 cents analyst consensus estimate. GFS Price Action: Globalfoundries shares were up 6.51% at $72.16 at the time of publication on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro data. Photo via Shutterstock

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