SMIC's Q4 Profit Slumps 38% Despite 32% Revenue Growth

MT Newswires Live

Feb 11, 2025

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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Revenue climbed to $8.03 billion from $6.32 billion in 2023.</p><p>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%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00981","symbol_name":"中芯国际","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2510480969","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2510480969","pubTimestamp":1739270124,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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