GlobalFoundries Reports First Quarter 2022 Financial Results

   Three Months Ended
(in millions USD, except for per share amounts)  March 31, 2021  March 31, 2022
     
Net revenue  $ 1,418   $ 1,940 
Cost of sales  1,319   1,471 
Gross profit   99    469 
Operating expenses:    
Research and development  103   128 
Sales, marketing, general and administrative  91   116 
Total operating expenses  194   244 
Operating profit (loss)   (95 )   225 
Finance expense, net   (28 )     (28 )
Other income     7       10  
Income tax expense     (11 )     (29 )
Net income (loss)   $ (127 )   $ 178  
Attributable to:        
Shareholders of GlobalFoundries     (126 )   $ 179  
Non-controlling interest     (1 )     (1 )
Earnings (loss) per share:        
Basic   $ (0.25 )   $ 0.34  
Diluted   $ (0.25 )   $ 0.33  
Shares used in earnings (loss) per share calculation        
Basic     500       532  
Diluted     500       549  

Unaudited Consolidated Statements of Financial Position

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