Semiconductor Company UMC Surpasses Q3 Revenue Expectations, Eyes Growth With New Projects In Pipeline

Taiwan-based United Microelectronics Corp (NYSE:UMC) reported a third-quarter fiscal 2024 revenue growth of 6% year-on-year to $1.91 billion (NT$60.49 billion).

The company beat the analyst consensus estimate of $1.88 billion. 

The revenue increased by 6.5% quarter over quarter.

Earnings per ADS of $0.183 beat the analyst consensus estimate of 17 cents.

Revenue from 22 and 28nm was 35% of the wafer revenue, while the 40nm contribution declined to 13% of sales. 

The gross margin declined by 210 basis points Y/Y to 33.8%. Capital expenditure spending totaled $688 million in the quarter.

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