GlobalFoundries Inc. swung to a third-quarter revenue and its income rose 56%, pushed by sturdy demand amid a chip scarcity.
The contract chip maker, one of many world’s largest chip makers and Ford Motor Co. ’s semiconductor associate, reported a $5 million revenue for the September quarter, in contrast with a $293 million loss a 12 months earlier. On a per share foundation, the revenue was one penny, or 7 cents on an adjusted foundation.