SMIC reports 29% increase in third-quarter profit
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A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song
By Che Pan and Brenda Goh
BEIJING (Reuters) -Semiconductor Manufacturing International Corp 0981.HK ，China's largest contract chipmaker, reported on Thursday a 28.9% year-on-year increase in third-quarter profit.
Profit attributable to owners of SMIC reached $191.75 million in the September quarter, ahead of analysts' estimates of $178.88 million, according to LSEG data.
Revenue rose 9.7% to $2.38 billion, beating analysts' expectations of $2.345 billion, according to LSEG.
(Reporting by Che Pan and Brenda Goh, Editing by Louise Heavens)
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