GlobalFoundries reported second-quarter revenue of $1.69 billion and adjusted earnings of 42 cents a share, both edging past Wall Street expectations. Lower operating costs and firm demand from automotive and datacenter customers supported the results. The contract chipmaker forecast third-quarter revenue of about $1.68 billion, plus or minus $25 million, and adjusted profit of roughly 38 cents a share. Those midpoints lag analysts’ estimates of $1.79 billion and 41 cents, respectively, reflecting a sluggish rebound in consumer-electronics orders, particularly smartphones. Investors reacted to the softer outlook, sending the stock down roughly 6% in pre-market trading. Chief Executive Officer Tim Breen said the company is waiting for “meaningful growth” in consumer-driven end markets while leaning on its automotive and industrial businesses. GlobalFoundries has expanded its capital plan to $16 billion and recently struck deals with Continental to supply auto chips and with MIPS to add processor designs for industrial and AI applications, moves aimed at diversifying revenue beyond the volatile smartphone sector.