United Microelectronics Clocks 27% Sales Growth In October

United Microelectronics Corp UMC reported net sales for October 2022. Sales for October grew 27.1% year-on-year to NT$24.34 billion.
Sales for the nine-month period that ended October increased by 35.9% Y/Y to NT$235.21 billion.
UMC reported third-quarter FY22 revenue growth of 34.9% year-on-year to $2.38 billion, missing the consensus of $2.40 billion.
Revenue from 22 and 28nm grew to 25% of the wafer revenue, while 40nm contributed 17% of sales.
The gross margin expanded by 1,050 basis points to 47.3%.
Earnings per ADS of $0.345 beat the consensus of $0.30.
In its earnings report, UMC forecasted a 10% quarter-over-quarter decline in Q4 wafer shipments and a gross profit margin in the low - 40% range. UMC sees a 2022 Capex of $3.0 billion.
Price Action: UMC shares closed higher by 6.12% at $6.24 on Friday.

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