Research — November 3, 2026
GlobalFoundries earnings preview: Q3 2026
By Harshvardhan Kyal
GLOBALFOUNDRIES Inc. (NASDAQ: GFS) will announce its third-quarter earnings on Wednesday, November 4, with Visible Alpha consensus estimates pointing to earnings of $0.51 per share, a projected year-on-year increase of 25%. Revenue is expected to reach $1.89 billion, up 11.9% from the same period last year. The consensus estimates for both earnings per share and revenue have remained unchanged over the past month, reflecting steady analyst expectations.
Wafer revenue is projected at $1.67 billion, also up 11.9% year-on-year. The Communications Infrastructure and Data Center segment is expected to deliver strong growth, with revenue forecast to surge 79.7% to $314 million. This division, which contributed 10% of total revenue in the third quarter of 2025, is anticipated to account for 17% in the current quarter, highlighting the shift in demand toward cloud and enterprise computing.
In contrast, the Smart Mobile Devices segment is expected to decline 18.4% to $614 million, continuing a multi-year slowdown. This segment, which makes up about a third of GlobalFoundries’ revenue, has been weighed down by weaker handset sales and memory pricing pressures. In the previous quarter, management highlighted industry-wide cuts to mobile forecasts, citing supply chain disruptions and component shortages. The persistent contraction in mobile devices remains a significant headwind, even as data center and infrastructure revenues accelerate.
Operating expenses are forecast to rise 44% year-on-year, but will be down 2.8% from the previous quarter.
Wafer volume is expected to increase 8.2% to 651,000 units, with blended average selling prices up 3.5% to $2,901. Total wafer capacity is estimated to grow 3.1% to 745,000 units, reflecting ongoing investment in manufacturing capabilities.
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