United Microelectronics (UMC) shares plummeted 5.10% in pre-market trading on Tuesday, underperforming the broader semiconductor sector. The selloff came after the chipmaker reported disappointing fourth-quarter earnings results that missed analyst expectations.
For the fourth quarter of 2024, UMC reported earnings per ADS of $0.10, falling short of the consensus estimate of $0.15. Revenue for the quarter came in at $1.84 billion, slightly below the projected $1.87 billion.
The chipmaker's Q4 performance also marked a decline from the same period a year earlier. Both earnings and revenue figures were down year-over-year, reflecting weaker demand conditions in the semiconductor industry.
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