China's SMIC Q4 profit slumps 38.4%, misses estimates despite revenue growth

Reuters
02-11
China's SMIC Q4 profit slumps 38.4%, misses estimates despite revenue growth

BEIJING, Feb 11 (Reuters) - Semiconductor Manufacturing International Corp 0981.HK, China's largest contract chipmaker, reported a 38.4% year-on-year fall in fourth-quarter profit.

Profit attributable to owners of SMIC reached $107.6 million in the October-December quarter, compared with analysts' estimate of $193.45 million, according to LSEG data.

Revenue rose 31.5% to $2.2 billion, compared to market expectations of $2.18 billion, according to LSEG.

(Reporting by Liam Mo and Brenda Goh, Editing by Louise Heavens)

((liam.mo@thomsonreuters.com;))

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