SMIC Profit Misses Estimates on Weak Chinese Consumer Sentiment
Semiconductor Manufacturing International Corp. posted weaker-than-expected quarterly profit due to sluggish macroeconomic conditions in China. Net income was $71.8 million in the three months ended in March, compared to the average analyst estimate of $76.8 million, according to a company filing on Thursday. Revenue totaled $1.75 billion, versus analysts’ projection of $1.69 billion....
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