RTTNews | Jul 29, 2020 05:41AM EDT

05:41 Wednesday, July 29, 2020 (RTTNews.com) - Taiwanese Semiconductor foundry United Microelectronics Corp. (UMC) Wednesday reported a surge in profit for the second quarter, with double digit growth in revenues, reflecting increase in wafer shipments.

For the second quarter, the Group's net profit attributable to stockholders of the parent jumped to NT$6.68 billion from NT$1.74 billion, and earnings per share surged to NT$0.55 from NT$0.15 last year.

Gross profit for the period rose more than 80 percent to NT$10.26 billion, and gross margin rose to 23.1 percent from 15.7 percent last year.

The Group's consolidated revenue for the quarter rose 23.2 percent to NT$44.39 billion from NT$36.03 billion in the same quarter of last year.

The group attributed the growth to the increase in wafer shipments mainly reflected computing segment demand for connectivity, display driver and flash controller as well as inventory replenishment in computing markets.

Read the original article on RTTNews ( https://www.rttnews.com/3115395/umc-q2-profit-surges.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved