United Microelectronics (UMC) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
United Microelectronics Corporation (UMC) reported a slight quarterly revenue decrease but maintained strong margins and a net income of NT$10.46 billion for Q1 2024. The company saw a 4.5% increase in wafer shipments and a robust demand for its specialty businesses, with a positive outlook for wafer shipments in Q2 despite some lingering market uncertainties. Furthermore, UMC continues to focus on growth areas such as 5G and AI, while also achieving a double ‘A’ rating in CDP’s Climate Change and Water Security assessment.
For further insights into UMC stock, check out TipRanks’ Stock Analysis page.