UMC This autumn earnings miss expectations, shares edge larger

TAIPEI – United Microelectronics Company (NYSE:UMC) reported fourth quarter earnings that fell wanting analyst estimates.

Regardless of the earnings miss, UMC shares rose 1.59% in after-hours buying and selling following the report.

The Taiwan-based semiconductor foundry posted adjusted earnings per ADS of $0.104, lacking the consensus forecast of $0.14. Income got here in at $1.84 billion, beneath expectations of $1.87 billion however up 9.9% YoY.

For the fourth quarter, UMC’s gross margin was 30.4%, down from 33.8% in Q3. Working margin declined to 19.8% from 23.3% within the earlier quarter.

The corporate stated its 22/28nm portfolio remained the biggest income contributor, accounting for 34% of wafer gross sales in This autumn.

UMC famous clients are exhibiting sturdy curiosity in migrating to its 22nm specialty platforms.

Trying forward, UMC expects Q1 wafer shipments to stay flat quarter-over-quarter, whereas common promoting costs in USD are forecast to lower by mid-single digits. The corporate initiatives Q1 gross margin shall be above 25%, factoring in impression from a January earthquake.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.