On December 1, GLOBALFOUNDRIES announced its financial results for the third quarter of 2021 as of September 30. This is the company's first financial report since its listing on October 28 this year. The financial report shows that the company's Q3 revenue was US$1.7 billion, compared with US$1.091 billion in the same period last year, an increase of 56% year-on-year; net profit was US$5 million, and a loss of US$293 million in the same period last year.

In terms of production capacity, GlobalFoundries said that the shipment of 12-inch wafers in the third quarter was 609,000, a quarterly increase of 2.5% and an annual increase of 27%. It is expected that the fourth quarter will increase by about 4% quarterly and 12% annually, and the German Fab1 factory is expected to grow by 16%. The Singapore plant is currently being expanded, and the new capacity is expected to operate in the second half of 2022 and put into operation in the first half of 2023.

GlobalFoundries CEO Tom Caulfield said that higher wafer production is mainly driving revenue growth.

Reuters' analysis pointed out that although the new crown pneumonia pandemic has stimulated demand for notebook computers, mobile phones and cars, it has also exacerbated the global shortage of semiconductor chips, forcing automakers and electronics companies to reduce production and delay the launch of new products.

The current shortage is mainly concentrated on less advanced chips used to manufacture integrated circuits (ICs) and microcontrollers, and as foundries such as TSMC shift their focus to manufacturing cutting-edge chips with higher profit margins for manufacturing Smartphone and laptop. In turn, this also helps GLOBALFOUNDRIES remain competitive in some market segments.

In addition, GLOBALFOUNDRIES also announced the expansion of cooperation with Qualcomm in the third quarter and will be responsible for manufacturing advanced 5G RF-FE products for Qualcomm. In addition, this season has announced a non-binding strategic cooperation agreement with Ford to increase GLOBALFOUNDRIES's chip supply to Ford.

However, it should be pointed out that, compared with the gross profit margins of OEM competitors TSMC and Intel, which are much higher than 50%, the gross profit margin of GLOBALFOUNDRIES in the most recent quarter is still significantly low, about 18%.