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Semiconductor Manufacturing International Corp. Q3 Income Rises 42%

Semiconductor Manufacturing International Corp. (SIUIF.PK) announced earnings for its third quarter that rose from last year.

The company said its bottom line totaled $68.97 million, or $0.10 per share. This was up from $48.68 million, or $0.07 per share, in last year's third quarter.

Analysts had expected the company to earn $0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 9.2% to $569.85 million. This was up from $521.65 million last year.

Semiconductor Manufacturing International Corp. earnings at a glance:

-Earnings (Q3): $68.97 Mln. vs. $48.68 Mln. last year.
-Earnings Growth (Y-o-Y): 41.7%
-EPS (Q3): $0.10 vs. $0.07 last year.
-EPS Growth (Y-o-Y): 42.9%
-Analysts Estimate: $0.06
-Revenue (Q3): $569.85 Mln vs. $521.65 Mln last year.
-Revenue Change (Y-o-Y): 9.2%

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First quarter growth data from China gained the maximum focus this week as trends in the massive emerging economy impact its trading partners. Elsewhere, the IMF released its latest global macroeconomic projections. Read our story to find out why comments from the Fed Chair Powell damped rate cut expectations. Meanwhile, there was some survey data that kindled hopes of a recovery in manufacturing. In the U.K., inflation data for March revealed some confusing trends.

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