Semiconductor Manufacturing International Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 09/01 02:53

Semiconductor Manufacturing International (HKG:981) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$1.90b (up 22% from 2Q 2023).
  • Net income: US$164.6m (down 59% from 2Q 2023).
  • Profit margin: 8.7% (down from 26% in 2Q 2023).
  • EPS: US$0.021 (down from US$0.051 in 2Q 2023).
earnings-and-revenue-history
SEHK:981 Earnings and Revenue History September 1st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Semiconductor Manufacturing International Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 130%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Hong Kong.

Performance of the Hong Kong Semiconductor industry.

The company's shares are up 4.5% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Semiconductor Manufacturing International (1 makes us a bit uncomfortable!) that you need to take into consideration.