UMC Reports Net Income Growth and Resilient Chip Demand
The Taiwanese chipmaker reported a 108 percent rise in first-quarter net income. It expects strong shipments in the second quarter despite regional headwinds.
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UNITED MICROELECTRONICS CORP reported first-quarter net income rose 108% to T$16.17 billion despite geopolitical volatility in the Middle East. Revenue for the Taiwan chipmaker climbed 5.5% to T$61.04 billion. UMC's shares have risen 51% so far this year, outperforming a 36% gain in the broader market. Resilient demand in communications and computing offsets supply shortages.
