United Microelectronics Corp (NYSE:UMC) reported net sales for August 2023 decline of 25.23% Y/Y to NT$18.95 billion.
Sales for the YTD period that ended August fell by 20.0% Y/Y to NT$148.5 billion.
In July, UMC reported Q2 FY23 revenue decline of 21.9% Y/Y to NT$56.30 billion. In USD, revenue of $1.81 billion beat the consensus of $1.78 billion.
In USD, adjusted EPS of $0.204 exceeded the consensus of $0.15.
Revenue from 22 and 28nm grew to 29% of the wafer revenue, while 40nm contributed 12% of sales in the quarter.
The gross margin contracted to 36.0% from 46.5% a year ago.
In its earnings report, UMC forecasted a 3%-4% Q/Q decline in Q3 wafer shipments and a low-single-digit reduction in gross profit margin. UMC sees an FY23 capital expenditure of $3.0 billion.
Price Action: UMC shares closed higher by 1.66% at $7.36 on Friday.
