United Microelectronics (UMC) stock fell 5.45% during Wednesday's trading session, reflecting negative investor sentiment following the company's quarterly earnings release.
The semiconductor manufacturer reported fourth-quarter earnings of NT$0.81 per share, which came in below the FactSet consensus estimate of NT$0.82. This earnings miss occurred despite the company posting revenue of NT$61.81 billion, which exceeded analyst expectations.
The disappointing earnings per share results prompted selling pressure in pre-market trading, with the stock continuing to decline throughout the session as investors reacted to the mixed financial performance.
Comments