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TSMC Q3 revenue forecast lower than expected

TSMC Q3 revenue forecast lower than expected

Taipei, July 16 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC, ???), the world's largest contract chip maker, forecast third-quarter revenue that is lower than market expectations Thursday, due in part to slowing smartphone demand and macroeconomic uncertainties. The Hsinchu-based company expects its revenue in the July-September period to be between NT$207 billion (US$6.64 billion) and NT$210 billion, TSMC Chief Financial Officer Lora Ho (???) said at an investor conference. That would represent a sequential growth of 0.76 percent to 2.22 percent, below the market expectations of a 5 percent quarterly increase. TSMC President and Co-Chief Executive Officer Mark Liu (???) attributed the lower-than-expected growth forecast to weak demand for smartphones, continued inventory digestion by customers and macroeconomic uncertainties. In an annual general meeting held in June, TSMC Chairman Morris Chang (???) said that after going through inventory adjustments in the first half of this year, sales growth in the global semiconductor sector was expected to pick up in the second half. Chang said at the time that TSMC was expected to enjoy a more-than 10 percent year-on-year increase in consolidated sales for 2015. Shares of TSMC edged down 1.44 percent at NT$136.5 Thursday on the Taiwan Stock Exchange. (By Jeffrey Wu)


Updated : 2021-09-22 16:19 GMT+08:00