Despite the massive demand for semiconductor foundry capacity, GlobalFoundries did not manage to turn a profit in the first half of this year. In fact, the company posted a net loss of $301.2 million in the first half of this year. Revenue increased 13 percent year-over-year, to $3.04 billion for the six months ended June 30.
For the six months ended June 30, the company reports net revenues of $3.038 billion (up 12.6% year-over-year), and a net loss that narrowed to $301.2 million from $533.6 million in the same period in 2020. It has $805 million in cash.A preliminary figure listed in the IPO hints GlobalFoundries aims to raise $1 billion via its IPO.