We recently published 10 Stocks Turning Heads With Double-Digit Returns. Globalfoundries Inc. was one of the best performers on Wednesday.
Globalfoundries jumped to an over one-year high on Wednesday, as investors gobbled up shares after the company swung to profitability last year, marking a 439 percent improvement year-on-year.
In an earnings call, Globalfoundries Inc. said that it swung to a net income of $888 million in 2025 from a $262 million net loss in 2024. This came despite a mere 1 percent uptick in net revenues at $6.79 billion from $6.75 billion year-on-year.
In the fourth quarter alone, net income stood at $200 million, reversing a $729 million net loss in the same quarter a year earlier. Revenues, however, were flat at $1.83 billion.
Following the results, Globalfoundries Inc. saw its intra-day share price on Wednesday jump to as much as $48.88 before trimming a few cents to finish the session just up by 16.32 percent at $48.74 apiece.
In other news, Globalfoundries Inc. announced plans to buy back $500 million worth of its common shares in a bid to boost shareholder value.
The buyback may be implemented from time to time, through open market purchases and privately negotiated transactions, among others.
The initiative will run for a period of 12 months and may be modified, suspended, or terminated at anytime.
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This article is originally published at Insider Monkey.
