Before the US stock market on April 24 | April 26, UMC.US (UMC.US) announced today the financial results for the first quarter of 2024.
In the first quarter of 2024, the company's revenue was NT$54.63 billion, down 0.65% from the previous month and up 0.8% year on year. The consolidated gross margin for the first quarter was 30.9%, and net profit to mother was NT$10.46 billion, with revenue per ADS of 0.131 US dollars. During the period, revenue from the 22/28nm process increased to 33% of total revenue, and the capacity utilization rate was 65%.
The report shows that in the first quarter of 2024, the company's wafer shipments increased 4.5% month-on-month. Driven by demand for power management ICs, RFSOI chips, and AI server silicon plug-ins, the contribution of our professional business increased to 57% of total revenue. Furthermore, in line with the company's policy of providing stable and predictable dividends to shareholders, UMC's board of directors recently approved shareholder cash allocations of approximately NT$3.00 per share, which will be higher than the previous year.
Looking ahead, UMC expects the gross margin for the second quarter to be around 30%, and the capacity utilization rate is expected to be around 60%. The company also anticipates capital expenditure of $3.3 billion in 2024.