United Microelectronics Corp. Net Income Rises In Q2

(RTTNews) - Wednesday, United Microelectronics Corp. (UMC) announced its second-quarter financial results, reporting a net income of NT$42.260 billion, or NT$16.95 per ADS, compared to NT$8.903 billion, or NT$3.55 per ADS, in the previous year.

On a per-share basis, earnings amounted to NT$3.39 compared to NT$0.71 in the earlier year.

The increase in net income was mainly driven by higher net non-operating income, which amounted to NT$30.236 billion during the period, compared to expenses of NT$666 million in the prior year.

Operating revenues rose 17 percent, to NT$68.733 billion from last year's NT$58.758 billion.

Looking ahead to the third quarter, the company expects gross profit margin in mid 30 percent range.

In the pre-market hours, UMC is trading at $17.08, down 1.65 percent on the New York Stock Exchange.