(4) Included in net income is net interest income and other income and expense which we estimate will be between $7 and $15 million for the fourth quarter 2024. Also included in net income is income tax expense which we estimate will be between $23 million and $35 million for the fourth quarter 2024.
|
Consolidated Statements of Operations
(Unaudited, in millions, except for per share amounts) | ||||||||
| Three Months Ended | ||||||||
| September 30, 2024 | September 30, 2023 | |||||||
| Net revenue | $ | 1,739 | $ | 1,852 | ||||
| Cost of revenue | 1,325 | 1,323 | ||||||
| Gross profit | $ | 414 | $ | 529 | ||||
| Operating expenses: | ||||||||
| Research and development | 130 | 108 | ||||||
| Selling, general and administrative(1) | 98 | 143 | ||||||
| Restructuring charges | 1 | 17 | ||||||
| Total operating expenses | $ | 229 | $ | 268 | ||||
| Operating profit | $ | 185 | $ | 261 | ||||
| Finance income (expense), net | 15 | 3 | ||||||
| Other income (expense) | (5 | ) | (21 | ) | ||||
| Income tax expense | (17 | ) | 6 | |||||
| Net income | $ | 178 | $ | 249 | ||||
| Attributable to: | ||||||||
| Shareholders of GlobalFoundries | 177 | 249 | ||||||
| Non-controlling interest | 1 | — | ||||||
| EPS: | ||||||||
| Basic | $ | 0.32 | $ | 0.45 | ||||
| Diluted | $ | 0.32 | $ | 0.45 | ||||
| Shares used in EPS calculation: | ||||||||
| Basic | 552 | 553 | ||||||
| Diluted | 555 | 556 | ||||||
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