Benzinga | Oct 29, 2020 07:50AM EDT

Recap: United Microelectronics Q3 Earnings



Shares of United Microelectronics (NYSE:UMC) moved higher by 4.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 225.00% year over year to $0.13, which beat the estimate of $0.07.

Revenue of $1,542,000,000 up by 26.71% year over year, which beat the estimate of $1,490,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

United Microelectronics hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $5.91

Company's 52-week low was at $2.10

Price action over last quarter: Up 56.25%

Company Description

United Microelectronics Corp is a Taiwan-based, the world's second- largest foundry in terms of market share, went public as an American depositary receipt in the United States in 2000. The firm manufactures semiconductors for chipmakers such as AMD and Xilinx. However, the company has consistently lagged Taiwan Semiconductor in terms of market share and operating efficiency. UMC also holds several types of investments in other tech firms, which have provided it with incremental income in recent years.