Semiconductor Manufacturing International Corp. (HKG:0981, SHA:688981) attributable profit soared 162% to $188 million in the first quarter from $71.8 million in the year-ago period, according to a Thursday filing with the Hong Kong bourse.
Earnings per share at the semiconductor maker doubled to $0.02 from $0.01 in the prior-year period. Analysts at Visible Alpha estimated EPS at $0.03.
Revenue grew 28% to $2.25 billion from $1.75 billion. Visible Alpha analysts forecast revenue at $2.36 billion.
Meanwhile, SMIC expects second-quarter revenue to fall 4% to 6% from the first quarter, while gross margin is seen to range 18% to 20%, the filing said.
Shares fell 7% in Hong Kong and 4% in Shanghai during late morning trading on Friday.
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