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GLOBALFOUNDRIES BEATS EARNINGS, GUIDES HIGHER

GlobalFoundries reported Q1 revenue of $1.63B, up 3% year-over-year and in line with expectations, while delivering earnings above estimates. The chipmaker's bullish Q2 guidance sent shares up 9.28%.

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GlobalFoundries reports Q1 revenue up 3% YoY to $1.63B, in line with est., and forecasts Q2 revenue and adjusted earnings above estimates; GFS closes up 9.28% (Patrick Seitz/Investor's Business Daily)

Patrick Seitz / Investor's Business Daily: GlobalFoundries reports Q1 revenue up 3% YoY to $1.63B, in line with est., an…

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