SMIC releases second-quarter results, with a net profit attributable to shareholders of $165 million, an increase of 129.2% quarter-on-quarter
SMIC released its second-quarter results, with a net profit attributable to shareholders of $165 million, an increase of 129.2% quarter-on-quarter. Sales revenue was $1.901 billion, up 8.6% quarter-on-quarter and 21.8% year-on-year. Basic earnings per share were $0.02. The company's second-quarter sales revenue and gross margin were both better than expected. For the third quarter, the company's revenue guidance is a quarter-on-quarter growth of 13% to 15%, with a gross margin ranging from 18% to 20%
According to the news from Zhitong Finance and Economics APP, SMIC (00981) released unaudited performance for the three months ended June 30, 2024. The group achieved revenue of USD 1.901 billion during the period, an increase of 8.6% quarter-on-quarter and 21.8% year-on-year; net profit attributable to shareholders was USD 165 million, an increase of 129.2% quarter-on-quarter and a decrease of 59.1% year-on-year; basic earnings per share were USD 0.02.
The announcement stated that the company's sales revenue and gross profit margin in the second quarter were better than expected. Sales revenue was USD 1.9 billion, an increase of 9% quarter-on-quarter. Among them, shipments exceeded 2.11 million 8-inch wafers in terms of equivalent units, an increase of 18% quarter-on-quarter, and the average selling price decreased by 8% quarter-on-quarter due to changes in product mix.
For the third quarter, the company provided revenue guidance of a 13% to 15% increase quarter-on-quarter, with a gross profit margin ranging from 18% to 20%