The net profit of GE Core in the first quarter was $254 million, down 62% from the previous quarter.

[GlobalFoundries's first-quarter net profit fell 62% from the previous quarter to US $254 million] GlobalFoundries released preliminary financial results for the first quarter ended March 31, 2023. In the first quarter, net revenue was $1.841 billion, down 12 per cent from a month earlier and 5 per cent from a year earlier, while net profit was $254 million, down 62 per cent from a month earlier and up 43 per cent from a year earlier.