UMC - United Microelectronics stock climbs as Q2 profit revenue soars Y/Y
United Microelectronics ( NYSE: UMC ) stock rose ~4% on July 27 after the company's Q2 operating revenues grew +41.5% Y/Y to $2.43B.
Earnings per ADS increased +77.58% Y/Y to $0.293.
"Overall wafer shipments rose 4.3% from the previous quarter, while higher average selling price and a favorable foreign exchange rate lifted second-quarter gross margin to 46.5%. Revenue from our 22/28nm portfolio increased 29% sequentially, driven by the additional capacity at Fab 12A P5 that came online during the second quarter," said UMC Co-President Jason Wang.
Gross profit rose +110.4% Y/Y to ~$1.13B. Operating expenses increased to ~NT$6.71B in Q2, compared to NT$6.20B in Q1 2021.
Outlook :
"Going into the third quarter, we expect our business to remain firm. While cooling demand for smartphones, PCs, and consumer electronics may pose some short-term fluctuations, we are actively working with customers to adjust their product mix," added Wang
Q3 : Quarter-over-Quarter Outlook — The company expects Wafer Shipments and ASP in USD to remain flat, respectively. Gross Profit Margin to be in the mid-40% range, Capacity Utilization at 100% and 2022 CAPEX: $3.6B.
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United Microelectronics stock climbs as Q2 profit, revenue soars Y/Y