Shares of GlobalFoundries Inc. GFS were declining about 1% in premarket trading Tuesday after the chip foundry company marginally exceeded expectations for quarterly revenue but saw a decline on the metric. The company recorded net income of $254 million, or 46 cents a share, up from $178 million, or 33 cents a share, in the year-prior quarter. On an adjusted basis, GlobalFoundries earned 52 cents a share, up from 42 cents a share a year before and above the FactSet consensus, which was for 50 cents a share. Revenue fell to $1.84 billion from $1.94 billion, while analysts were modeling $1.83 billion. “Despite a challenging…
