United Microelectronics Tops Q4 Consensus; Sees Market Demand To Exceed Supply

United Microelectronics Corp UMC reported fourth-quarter FY21 revenue growth of 30.5% year-on-year to $2.14 billion, beating the consensus of $2.08 billion.
"In the fourth quarter, strong demand continued to drive full loading across our fabs, while overall wafer shipments grew 1.7% QoQ to 2.55 million 8-inch equivalents," Co-President Jason Wang said.
Margin: The gross margin expanded 1,520 basis points to 39.1%.
Earnings per ADS of $0.235 beat the consensus of $0.210.
The company generated $3.3 billion in operating cash flow during the twelve months ended December 31.
It held $4.8 billion in cash and equivalents.
Outlook: "Looking ahead into Q1 2022, we anticipate that demand across all nodes in UMC's addressable markets will continue to outpace supply," Wang said.
Price Action: UMC shares traded lower by 0.55% at $10.85 in the premarket session on the last check Tuesday.

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