RTTNews | Jan 27, 2021 10:24AM EST

10:23 Wednesday, January 27, 2021 (RTTNews.com) - Shares of semiconductor wafer foundry, United Microelectronics Corporation (UMC) are falling more than 5% Wednesday morning despite reporting better-than-expected fourth-quarter results.

Earnings in the fourth quarter were $0.162 per ADS compared with $0.058 in the same quarter a year ago. Analysts polled by Thomson Reuters expected earning of $0.06 per share.

Revenue in the quarter grew 8.2% year-over-year to $1.59 billion. The consensus estimate was for $1.57 billion.

UMC, currently at $9.41, has been trading in the range of $2.10- $10.61 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3163949/stock-alert-united-microelectronics-corporation-drops-5-despite-better-than-expected-results.aspx)

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