globalfoundries inc said tuesday its profit increased in the fourth quarter after its gross margin rose to a record and net income was boosted by the sale of a company facility in new york state the malta nybased semiconductor maker reported net income of 688 million in the period compared with 43 million a year earlier earnings per share reached 121 from 8 cents and adjusted earnings per share rose to 144 from 18 cents revenue increased to 21 billion from 18 billion in the fourth quarter of 2021 the sales figure outperformed market expectations while profit undershot the consensus compiled by factset was for revenue of 207 billion and net income of 710 million the company reported a gross margin of 296 in the fourth quarter up from 208 a year earlier globalfoundries said the gain from the sale of its east fishkill ny facility on the last day of the quarter is included in its net income figure the facility was sold for a final price of 406 million