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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.