United Microelectronics Beats EPS By $0.10, Reports High Capacity Utilization - United Microelectronics (NYSE:UMC)

United Microelectronics Corp UMC reports Q4 GAAP EPS of $0.162, which beat analyst consensus by $0.10.
Revenue of $1.59 billion beats by $20 million.
Q4 Gross margin of 23.9% increased by 720 bps year-over-year, and operating margin of 12.4% increased by 760 bps Y/Y.
UMC hit a capacity utilization rate of 99%, raising wafer shipments to 2.3 million 8-inch equivalents.
UMC expects strong demand for wafer chips in 2021 and will continue with a capital expenditure budget of $1.5 billion.
"Looking into the first quarter, stable demand outlook will lead to an incremental increase in wafer shipments and blended ASP in USD. However, due to the continuing unfavorable foreign exchange rate, we anticipate the appreciation of the NT dollar will offset more than half of the implied growth projected for 1Q," co-President Jason Wang said.
UMC shares are up 3.73% at $10.29 in the pre-market session on the last check Wednesday.