GE core's revenue in the second quarter was 1.99 billion US dollars, up 23% from the same period last year.

According to news on the evening of August 9, Beijing time, chipmaker GlobalFoundries today released its results for the second quarter of 2022, which ended on June 30. Revenue in the second quarter was $1.99 billion (about 13.452 billion yuan), up 23% from a year earlier, according to the financial report. Net profit was $264 million (about 1.785 billion yuan), up 252% from a year earlier. Adjusted net profit was $317 million (about 2.143 billion yuan), up 1157% from a year earlier.

Second quarter results:

Revenue was $1.99 billion, up 23% from a year earlier.

Gross profit was $538 million, up 133 per cent from a year earlier. Adjusted gross profit was $559 million, up 109 per cent from a year earlier.

The gross profit margin is 27.0%, and the adjusted gross margin is 28.0%.

Operating profit was $297 million, up 388 per cent from a year earlier. Adjusted operating profit was $350 million, up 754 per cent from a year earlier.

The operating margin is 14.9%, and the adjusted operating margin is 17.6%.

Net profit was $264 million, an increase of 252% over the same period last year. Adjusted net profit was $317 million, up 1157 per cent from a year earlier.

The profit margin of adjusted EBITDA (profit before interest, tax, depreciation and amortization) was 39.3%, compared with 28.8% in the same period last year.

In the second quarter, 630000 wafers were shipped, compared with 595, 000 a year earlier.

As of June 30, 2022, GE Core had $3.3 billion in cash, cash equivalents and marketable securities.