Categories AlphaGraphs, Earnings, Technology
GlobalFoundries (GFS) Q4 2022 profit jumps; revenue up 14%
Semiconductor company GlobalFoundries Inc. (NASDAQ: GFS) announced financial results for the fourth quarter of 2022, reporting a sharp increase in revenues and profit.
Fourth-quarter net income rose sharply year-over-year to $668 million or $1.21 per share. Adjusted earnings per share was $1.44 per share, compared to $0.18 last year. Adjusted EBITDA was $821 million, up 41% year-over-year.
The strong bottom-line performance reflects a 14% increase in revenues to $2.10 billion. All the operating segments, except the Smart Mobile Devices division, registered growth in the fourth quarter.
“Our revenue in 2022 grew 23% year-over-year, and we delivered record gross margin and net income, making significant progress toward our long-term financial model,” said GlobalFoundries’ CEO Thomas Caulfield.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
