UMC's Q4 revenue increased by 9.9% YoY, and its wafer shipments exceeded expectations slightly.

UMC (UMC.US) reported its 2024 Q4 earnings before the market opened on Tuesday, January 21. The results showed that UMC's Q4 revenue was US$1.84 billion, up 9.9% YoY, US$10 million lower than market expectations; net profit was US$259 million, down 35.6% YoY; and diluted EPS was US$0.10, lower than the market's expectation of US$0.15. UMC's wafer shipments in Q4 increased 1.5% QoQ to 909,000 wafers, and its quarterly capacity was 1.28 million, with a slight decline in overall utilization to 70% in Q4. The mixed average selling price (ASP) remained unchanged in Q4. The revenue contribution from 22/28nm slightly decreased to 34% of wafer revenue, while the revenue contribution from 40nm increased to 16%. Jason Wang, co-president of UMC, said, "Our Q4 results met expectations, with slightly better-than-expected wafer shipments and utilization. Full-year 2024 revenue grew 4.4% YoY, reflecting steady improvement in demand in the communication, consumer, and computer sectors. Our 22/28nm product portfolio remains the largest contributor, with a 15% revenue growth in 2024." UMC's communication business revenue accounted for 39% in Q4, while its computer application business revenue accounted for 13%, and its consumer application business revenue accounted for 29%. The revenue from other businesses increased to 19%. As of the end of the quarter, UMC's cash and cash equivalents increased to NT$10.5 billion, and its inventory turnover days decreased by 5 days to 80 days. UMC expects its wafer shipments in Q1 2025 to remain stable; and its average selling price in dollars will decline in the mid-single-digit percentage.