• Tue. Feb 7th, 2023

United Microelectronics Clocks 27% Sales Growth In October – United Microelectronics (NYSE:UMC)

ByAnusuya Lahiri

Nov 7, 2022
United Microelectronics Clocks 27% Sales Growth In October - United Microelectronics (NYSE:UMC)

  • United Microelectronics Corp UMC reported net sales for October 2022. Sales for October grew 27.1% year-on-year to NT$24.34 billion.
  • Sales for the nine-month period that ended October increased by 35.9% Y/Y to NT$235.21 billion.
  • UMC reported third-quarter FY22 revenue growth of 34.9% year-on-year to $2.38 billion, missing the consensus of $2.40 billion.
  • Revenue from 22 and 28nm grew to 25% of the wafer revenue, while 40nm contributed 17% of sales. 
  • The gross margin expanded by 1,050 basis points to 47.3%. 
  • Earnings per ADS of $0.345 beat the consensus of $0.30.
  • In its earnings report, UMC forecasted a 10% quarter-over-quarter decline in Q4 wafer shipments and a gross profit margin in the low – 40% range. UMC sees a 2022 Capex of $3.0 billion.
  • Price Action: UMC shares closed higher by 6.12% at $6.24 on Friday.



Image and article originally from www.benzinga.com. Read the original article here.