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(Reuters) – GlobalFoundries posted a 56% rise in income on Tuesday, in its first earnings replace after going public in October, as the worldwide semiconductor scarcity drives corporations to safe provides of chips utilized in every part from vehicles to cellphones.
The corporate makes silicon wafers for chip designers, resembling Superior Micro Units and Broadcom Inc, that wouldn’t have their very own fabrication crops, referred to as fabs.
The provision shock triggered by the scarcity has helped the corporate, which makes chips which might be seen as being non-cutting edge however are essential on the similar time.
The chipmaker stated income rose to $1.7 billion from $1.09 billion within the quarter ended Sept. 30.
It forecast current-quarter gross sales to be between $1.8 billion to $1.83 billion.
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