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SMIC's second-quarter revenue hit $3 billion for the first time, rising 36% from a year earlier, as the company raised wafer prices and shipments climbed
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Semiconductor Manufacturing International Corporation reported second-quarter revenue of $3 billion for the first time, while raising prices for its most in-demand production capacity as AI-driven orders pushed wafer shipments higher.
Revenue reached $3.01 billion in the second quarter, up 20% from the prior quarter and 36.1% from the same period a year earlier. Gross profit rose to $760.6 million, giving the company a gross margin of 25.3%, up from 20.1% in the first quarter. Profit attributable to shareholders came in at $479.2 million, nearly tripling from $132.5 million a year earlier. Both revenue and profit beat average analyst estimates, according to Reuters.
