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Benzinga
Benzinga
Business
Anusuya Lahiri

United Microelectronics Chief Cautions Currency, Trade Policy Could Dampen Gains

United Microelectronics Jason Wang UMC United Microelectronics Corporation Semiconductor Taiwan
United Microelectronics-Photo by Dr David Sing via Shutterstock

Taiwan-based United Microelectronics Corporation (NYSE:UMC), a prominent global semiconductor foundry, saw its stock price fall on Wednesday after reporting fiscal second-quarter results that largely disappointed market expectations.

For the quarter, the company reported revenue of $2.01 billion (58.76 billion New Taiwanese dollars), marking a modest 3.4% increase year-on-year. However, this figure missed the analyst consensus estimate of $2.05 billion.

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