TAIPEI Oct 30 World No.3 contract chipmaker
United Microelectronics Corp reported a
better-than-expected third-quarter net profit on Wednesday, as
chip demand for mobile devices continued to grow.
UMC reported a net profit of T$3.48 billion ($118.30
million) in the quarter, beating a median forecast of T$2.45
million from 15 analysts polled by Thomson Reuters I/B/E/S.
"For the fourth quarter, we have seen a decline in wafer
demand," UMC chief executive Po-Wen Yen said in a statement,
citing a seasonal correction, supply chain inventory control and
UMC posted a net profit of T$2.4 billion a year earlier and
T$1.8 billion in the previous quarter.
Shares of UMC closed up 3.6 percent before the news, versus
a gain of 0.5 percent in the benchmark index.
($1=29.4165 Taiwan dollars)
(Reporting by Clare Jim; Editing by Clarence Fernandez)