SMIC reports 29pc increase in third-quarter profit

Semiconductor Manufacturing International Corp (0981), China's largest contract chipmaker, reported on Thursday a 28.9 percent year-on-year increase in third-quarter profit.

Profit attributable to owners of SMIC reached US$191.75 million (HK$1.50 trillion) in the September quarter, ahead of analysts' estimates of US$178.88 million, according to LSEG data.

Revenue rose 9.7 percent to US$2.38 billion, beating analysts' expectations of US$2.345 billion, according to LSEG.

REUTERS