BUZZ-Chinese chipmaker SMIC jumps on Q3 profit, revenue growth

Reuters

2024/11/08

** China's largest chipmaker Semiconductor Manufacturing International Corp (SMIC) 0981.HK jumps 7.3% to HK$30.3, highest since Oct. 23

** Stock set for biggest intraday pct rise since Oct. 18

** SMIC posts 58.3% jump in Q3 net profit as the sector showed signs of recovery after prolonged downturn since late 2022

** Q3 net income at $148.8 mln, below analysts' estimates of $199.71 mln - LSEG

** Revenue in line with market expectations, while gross profit margin beats estimates

** Stock up 46% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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