According to Evertiq, GF CEO Dr. Thomas Caulfield said that the company shipped a new record of 630,000 wafers in the second quarter of 2022. This was driven by double-digit increases in factory capacity in the U.S. and Europe.
GF reported second-quarter revenue of $1.99 billion, up 23% year over year. During the same period, the company’s gross margin was a record 27.0%, and its adjusted gross margin was 28.0%. Separately, GF also reported a record net income of $264 million and an adjusted net income of $317 million.
Previously, the company announced an extension of its long-term agreement with Qualcomm, adding more than $4 billion in wafer purchases to its Malta fab in New York. The long-term agreement will generate more than $7 billion in global revenue for GF by 2028.
The company has also signed a definitive agreement with ST to build a new joint venture 300mm semiconductor manufacturing facility near ST’s existing 300mm fab in Crolles, France, the report said. The new facility, combined with GF’s capacity expansion in Dresden, Germany, will triple GF’s capacity in Europe by 2028.