GlobalFoundries management commentary: US government share issuance contributes to Q3 2026 pretax loss
GFS•GlobalFoundries reported a $270 million net loss for the third quarter ended September 30, 2026, versus a $249 million profit a year earlier. A $441 million expense from shares issued to the U.S. government reduced pretax earnings without a corresponding tax benefit.
1. Quarterly results
GlobalFoundries reported a $270 million net loss for the third quarter ended September 30, 2026, compared with a $249 million profit. A $441 million expense from shares issued to the U.S. government reduced pretax earnings without a corresponding tax benefit.
2. Operating income and taxes
Operating income rose to $230 million from $195 million as higher gross profit outweighed increased operating expenses. Management attributed additional tax expense to exchange-rate changes affecting the tax basis of certain nonmonetary assets in Germany.
