SMIC Reports First-Quarter Revenue Growth as Net Profit Misses Estimates
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SMIC reported first-quarter revenue of about $2.5 billion, up 11.5% from a year earlier, while net profit rose 5% to about $197.4 million. Profit was below estimates of about $223.6 million after operating expenses increased 30% from a year earlier.
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@techmemeSMIC reports Q1 revenue up 11.5% YoY to ~$2.5B and net profit up 5% YoY to ~$197.4M, below $223.6M est., weighed down by higher operating expenses, up 30% YoY (@qinsherry / Wall Street Journal) (Visit Techmeme dot com for the link and full