UMC June Revenue Hits 231.2B TWD, Up 22.85% Year-over-Year, Beating Expectations

According to Wedbush, United Microelectronics (UMC) reported June revenue of 231.2 billion New Taiwan dollars (TWD) on Monday, representing a year-over-year increase of 22.85% and beating market expectations. Analyst Matt Bryson noted that the strong performance reflects improving core operations, with benefits from rising data center demand and softer-than-expected consumer electronics declines. First-half cumulative revenue reached 1,297 billion TWD, up 11.28% from the prior year.

Wedbush maintained its neutral rating and 80 TWD price target for UMC. Bryson's team expects third-quarter earnings to benefit from average selling price (ASP) increases, which the company announced effective this month. The analyst believes current models may not fully reflect ASP gains' positive impact, particularly given Q3's higher revenue and profit base versus Q2.