SMIC second-quarter profit declined 19.5% year-on-year

By Che Pan and Brenda Goh

BEIJING (Reuters) -Semiconductor Manufacturing International Corp ，China’s largest contract chip maker, reported on Thursday a 19.5% year-on-year decline in second-quarter profit.

Profit attributable to owners of SMIC reached $132.5 million in the June quarter, missing analysts’ estimates of $183.35 million, according to LSEG data.

Revenue rose 16.2% to $2.2 billion, in line with market expectations of $2.2 billion, according to LSEG.

(Reporting by Che Pan and Brenda Goh, Editing by Louise Heavens)