FINWIRES · TerminalLIVE
FINWIRES

United Microelectronics Logs NT$16 Billion Profit in Q1; Shares Gain 4%

By

-- United Microelectronics (TPE:2303) posted net income of NT$16.2 billion for the first quarter, or NT$1.29 per share, according to a Wednesday Taiwan Exchange filing.

Shares rose about 4% in Thursday's midday trade.

Revenue rose 5.5% annually to NT$61.04 billion.

The company said demand for its 22nm technology remained strong, accounting for 14% of total revenue during the quarter, alongside a capacity utilization rate of 79%.

Looking ahead, UMC expects wafer shipments to grow by a high-single-digit percentage in the second quarter, with gross margin around 30% and utilization in the low-80% range, the filing said.

Related Articles

Asia

Nomura Adjusts Midi Utama Indonesia's Price Target to IDR530 From IDR630, Keeps at Buy

$IDX:MIDI
Asia

Nomura Adjusts Ecopro BM's Price Target to KRW280,000 From KRW270,000, Keeps at Buy

$KOSDAQ:A247540
Sectors

Crude Oil Prices Surge Amid Concerns About Escalation in U.S.-Iran War

Crude oil prices rose on Thursday, hitting a four-year high, amid concerns that hostilities in the Middle East may start up again and prolong the supply disruptions in the region.Brent crude at last look jumped 2.9% to US$121.48/barrel and West Texas Intermediate crude climbed 1.5% to $108.51/barrel. This comes after Axios, citing unidentified sources, reported that U.S. President Donald Trump is set to receive a briefing on plans for a series of military strikes on Iran to push for a return to negotiations on its nuclear program, Reuters said in a Thursday report.Additionally, Trump spoke with oil companies about how to mitigate the impact of a possible months-long U.S. blockade, Reuters reported, citing a White House official.Continued price hikes risk a renewed spike in global inflation and higher fuel prices, the report said. "For those who do not think Brent prices have the potential to reach $150 a barrel, you ought to look away now," Reuters quoted John Evans of oil broker PVM as saying."Prospects for any near-term resolution to the Iran conflict or a reopening of the Strait of Hormuz remain dim," IG market analyst Tony Sycamore was quoted as saying in a note.

$CLX1$LCOX1$USO