UMC Net Income Misses Estimates, Forecasts Sales to Fall
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United Microelectronics Corp., the world’s second-largest contract maker of chips, posted profit which missed analyst estimates and forecast shipments, sales and margins will fall this quarter as customers clear inventory.
Third-quarter net income climbed 24 percent to NT$2.42 billion ($83 million), from NT$1.95 billion a year earlier, the Hsinchu, Taiwan-based company said in a statement today. The average of 15 analysts’ estimates compiled by Bloomberg was for profit of NT$3.62 billion.