UMC Q4 Profit Rises With Strong Revenue Growth - Quick Facts

(RTTNews) - United Microelectronics Corp. (UMC), a Taiwanese semiconductor firm, reported Monday that its fourth-quarter net income attributable to the shareholders of the parent was NT$19.1 billion or NT$1.54 per share, up 19.6 percent from NT$15.95 billion or NT$1.30 per share a year ago.

Earnings per ADS were $0.251, up from $0.212 a year ago.

Fourth-quarter consolidated revenue was NT$67.84 billion, a growth of 14.8 percent from NT$59.10 billion last year. Sequentially, revenues decreased 10 percent.

Looking ahead, Jason Wang, co-president of UMC, said, "Given the soft global economic outlook for 2023, we expect the current challenging environment to persist through the first quarter as customers' days of inventory are still higher than normal while order visibility remains low. To manage this period of weakness, the Company is implementing strict cost control measures and deferring certain capital expenditures where possible."