August 7, 2013 / 8:46 AM / 4 years ago

UMC Q2 net falls 32 percent on year, but beats forecast

TAIPEI, Aug 7 (Reuters) - United Microelectronics Corp , the world’s No.3 contract chipmaker, reported on Wednesday a better-than-expected net profit in the second quarter as chip demand for mobile devices continued to grow.

UMC reported a net profit of T$1.8 billion ($60 million) in the quarter, beating a median forecast of T$983.5 million from 13 analysts polled by Thomson Reuters I/B/E/S.

UMC posted a net profit of T$2.65 billion a year earlier and T$6.59 billion in the previous quarter.

Before the announcement, shares of UMC closed down 2.3 percent, trailing the broader market’s 1.46 percent fall.

Reporting by Faith Hung; Editing by Matt Driskill

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