Thread regarding GlobalFoundries layoffs

GLOBALFOUNDRIES going public

https://m.timesunion.com/business/article/GlobalFoundries-planning-to-go-public-14467688.php

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Post ID: @11eeDcQp

6 replies (most recent on top)

Bahahaha. They’ve been going public since 2015!

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Post ID: @11eeDcQp-Bqbe

How do they count revenue? Not in accordance with GAAP. I can 100% guarantee you that. Shall we call it proprietary?

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Post ID: @11eeDcQp-rov

Maire said Caulfield said that GlobalFoundries was now bringing in $6 billion in annual revenue and had $550 million in free cash flow this year.

this is a joke... i wonder how do they count revenue

[img]http://press.trendforce.com/data/attachment/2019/09/04/992587001567574940.png[/img]

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Post ID: @11eeDcQp-dyz

I read the article and I think the first guy is right - free cash flow isn't profit and this is a capital intensive industry. If they are not covering depreciation, "free cash flow" could be little.more than a farce. I don't know about stock offerings, but public companies have to generate financial statements from accountants. I doubt investors will buy the free cash flow line with all the red ink. Plus they've been saying IPO for years. If they actually do it, it will be a failure.

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Post ID: @11eeDcQp-brc

Well said. But if you actually read that link to the article, the first part is a little praiseworthy but the 2nd half of the article paints a pretty bleak picture of GFs chances for the future and IPO.

Maybe they are dressing it up and pressing it up to say to potential suitors that pick up us now because in 3 years when the IPO hits, it is going to cost you a whole lot more. The Prince is done with this one-too high maintenance- and wants her out of the harem.

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Post ID: @11eeDcQp-bix

Doubt it will actually happen. I know the oil sheiks want their investment back, but an IPO probably would not be the best way to do it. Who is going to underwrite them? Who is going to sign off on their financial statements? Do they really want the SEC involved when the deception comes to light? This is not going to happen IRL. This is a PR stunt to convince industry players that GF isn't failing miserably

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Post ID: @11eeDcQp-dwj

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