United Microelectronics (UMC) stock experienced a significant pre-market plunge, dropping 5.45% as investors reacted negatively to the company's latest financial results.
The semiconductor manufacturer reported fourth-quarter earnings per share of NT$0.81, which fell short of 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 immediate selling pressure in pre-market trading, reflecting investor concerns about the company's profitability despite the revenue beat.
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