United Microelectronics Q4 revenue rises Y/Y; weak Q1 2023 to see cost cutting measures
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United Microelectronics (NYSE:UMC) Q4 functioning income grew +14.8% to Y/Y to $2.21B.
Earnings for each Adverts amplified +18.4% Y/Y to $.251. Both of those major and base line missed estimates.
Even so, consolidated revenue declined -10% Q/Q to NT$67.84B thanks to inventory correction in the semi sector which decreased wafer shipments, the company added.
“For the whole 12 months 2022, UMC’s earnings hit a record significant of NT$278.7 billion whilst functioning money exceeded NT$100 billion. Gross margin attained 45%, pushed by a more favorable international exchange price, increasing 22/28nm portfolio, and recently extra ability,” reported UMC Co-President Jason Wang.
The corporation mentioned that income from 22/28nm grew 56% in comparison to 2021, as contribution from 28nm systems and below accounted for 24% in 2022.
Entire-12 months 2022 automotive earnings grew 82% Y/Y.
Outlook:
“Offered the comfortable global economic outlook for 2023, we count on the present tough environment to persist by means of the 1st quarter as customers’ days of stock are however increased than typical though buy visibility remains very low. To control this time period of weakness, the Firm is implementing stringent charge manage actions and deferring certain funds expenditures wherever doable,” Wang included.
Q1 2023 Outlook Q/Q: The organization said Wafer Shipments will decrease in the high teenagers % vary and Gross Revenue Margin will be in the mid-30% array.
