- United Microelectronics Corp (NYSE:UMC) reported fourth-quarter FY21 revenue growth of 30.5% year-on-year to $2.14 billion, beating the consensus of $2.08 billion.
- "In the fourth quarter, strong demand continued to drive full loading across our fabs, while overall wafer shipments grew 1.7% QoQ to 2.55 million 8-inch equivalents," Co-President Jason Wang said.
- Margin: The gross margin expanded 1,520 basis points to 39.1%.
- Earnings per ADS of $0.235 beat the consensus of $0.210.
- The company generated $3.3 billion in operating cash flow during the twelve months ended December 31.
- It held $4.8 billion in cash and equivalents.
- Outlook: "Looking ahead into Q1 2022, we anticipate that demand across all nodes in UMC's addressable markets will continue to outpace supply," Wang said.
- Price Action: UMC shares traded lower by 0.55% at $10.85 in the premarket session on the last check Tuesday.
