Reuters logo
UMC Q1 net beats forecasts; sees better Q2 wafer business
May 8, 2013 / 6:00 AM / 4 years ago

UMC Q1 net beats forecasts; sees better Q2 wafer business

TAIPEI, May 8 (Reuters) - Taiwan’s UMC, the world’s No.3 contract chipmaker, reported on Wednesday a better-than-expected net profit in the first quarter, as chip demand for mobile devices continued to grow.

UMC reported a net profit of T$6.59 billion ($220 million) in the quarter, beating a median forecast of T$1.27 billion from 12 analysts, polled by Thomson Reuters I/B/E/S.

UMC posted a net profit of T$1.34 billion a year earlier and T$1.08 billion in the previous quarter.

It said in a statement it sees the wafer business improving significantly in the second quarter due to rising demand for communications products.

UMC said that demand has stabilized following a few months of inventory correction.

Before the announcement, shares of UMC closed up 4.3 percent, outperforming the broader market’s 1.3 percent rise. (Reporting by Clare Jim; Editing by Jeremy Laurence)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below