SMIC profit rises 5% in first quarter but misses estimates

Semiconductor Manufacturing International Corp. reported a 5% year-over-year rise in first-quarter profit on May 14, 2026, missing analyst expectations even as revenue met forecasts. Profit attributable to owners reached $197.4 million, below the $215.2 million expected by analysts, according to LSEG data. Revenue rose 11.5% to $2.5 billion, in line with the $2.5 billion consensus estimate. China’s largest contract chipmaker said in a stock filing it had become more optimistic about 2026 operations than in the December quarter, citing robust customer demand and existing orders.