Semiconductor Manufacturing International or SMIC (HKG:0981, SHA:688981) recorded a 38% decline in profit attributable to owners for the three months ended Dec. 31, 2024, to $107.6 million from $174.7 million a year prior.
Earnings per share were $0.01 in the quarter, down from $0.02 in the fourth quarter of 2023, according to a Tuesday Hong Kong bourse filing.
The Chinese semiconductor manufacturer's fourth-quarter revenue increased 32% to $2.21 billion from $1.68 billion in the year-ago period.
For 2024, full-year attributable profit dropped 45% year over year to $492.7 million, mainly due to lower investment and financial income. Revenue climbed to $8.03 billion from $6.32 billion in 2023.
Looking ahead, the chipmaker expects a 6% to 8% quarter-on-quarter increase in revenue for the January to March period, as well as a gross margin of between 19% and 21%.
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