United Microelectronics Q1 2024 GAAP EPADS $0.13 Misses $0.15 Estimate, Sales $1.708B Miss $1.730B Estimate
Portfolio Pulse from Benzinga Newsdesk
United Microelectronics (NYSE:UMC) reported Q1 2024 earnings per share of $0.13, missing the consensus estimate of $0.15, and sales of $1.708B, missing the estimate of $1.730B. This represents a 36.1% decrease in earnings and a 0.77% increase in sales year-over-year.
April 24, 2024 | 10:21 am
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NEGATIVE IMPACT
UMC's Q1 2024 earnings and sales missed estimates, with a significant decrease in earnings per share compared to last year.
Missing both earnings and sales estimates, especially with a significant year-over-year decrease in earnings per share, is likely to negatively impact investor sentiment and UMC's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100