GlobalFoundries Inc., the largest US maker of made-to-order semiconductors, reported robust financial results for the third quarter of 2024. The company achieved a revenue of $1.74 billion, surpassing the expected $1.73 billion, and an adjusted earnings per share (EPS) of $0.41, exceeding the anticipated $0.31. The strong performance was attributed to an 11% growth in smart device revenue. Following the earnings release, GlobalFoundries' stock rose significantly, with pre-market trading showing an increase of up to 11.2%. The company also provided an optimistic forecast for the fourth quarter, projecting net revenue between $1.80 billion and $1.85 billion, and adjusted EPS ranging from $0.39 to $0.51, both above market expectations. This positive outlook is driven by strong demand from smartphone makers.