GlobalFoundries shipped a record 630 thousand wafers in 2Q22
GlobalFoundries’ CEO Dr. Thomas Caulfield, says that the company shipped 630 thousand wafers during the second quarter of 2022 – a new record. This was driven by double-digit growth at sites in the US and Europe.
The semiconductor manufacturer posted second quarter record revenue of USD 1.99 billion, up 23% year-over-year. Adding to this was a record gross margin of 27.0% and adjusted gross margin of 28.0%. GlobalFoundries also reported record net income of USD 264 million and adjusted net income of USD 317 million.
"We shipped a record 630 thousand wafers in the quarter, driven by double-digit growth at sites in the US and Europe. Our revenue grew 23% year-over-year, and we delivered record profitability, making significant progress towards our long-term financial model. Despite global supply chain challenges, the GF team continues to execute to our expansion plans as we build out capacity to meet our customers' long-term needs. We remain on track to deliver a strong year of growth and profitability,” says CEO Dr. Thomas Caulfield in the quarterly report.
During the quarter the company announced the extension of its long-term agreement with Qualcomm which adds more than USD 4 billion in incremental wafer purchases from GF's Malta, New York facility. With this extension, the total long-term agreement with Qualcomm now represents more than USD 7 billion in global revenue through 2028.
The company also signed adefinitive agreement with ST Microelectronics to create a new, jointly-operated 300mm semiconductor manufacturing facility adjacent to ST's existing 300mm facility in Crolles, France. This new facility, combined with GF's capacity expansion in Dresden, Germany, will triple GF's capacity in Europe through 2028.