9 months ago
65 A pistillate walks past a Taiwan Semiconductor Manufacturing Company (TSMC) logo astatine the Hsinchu Science Park successful Hsinchu connected July 5, 2023. (Photo by Sam Yeh / AFP) (Photo by SAM YEH/AFP via Getty Images)
Sam Yeh | Afp | Getty Images
Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, posted a second-quarter nett plunge Thursday as demand for consumer electronics continues to slump.
Here are TSMC's 2nd 4th results versus Refinitiv statement estimates:
Revenue: 480.84 billion New Taiwan dollars ($15.68 billion), vs. NT$478.83 cardinal expectedNet income: NT$181.8 billion, vs. NT$172.55 cardinal expectedTSMC reported gross slipped 10% from a twelvemonth agone to NT$480.84 billion, portion nett income fell 23.3% from a twelvemonth agone to NT$181.8 billion. The institution had antecedently forecast second-quarter gross betwixt $15.2 cardinal and $16 billion.
Recovery underway?
TSMC is the apical shaper of the world's astir precocious processors, including the chips recovered successful the latest iPhones, iPads and Macs. But request for user electronics has plunged post-pandemic.
Global request for laptops and smartphones spiked during Covid-19 lockdowns, spurring smartphone and PC makers to stockpile chips. Now those companies are grappling with excess inventories arsenic consumers chopped backmost connected purchases of these goods owed to rising inflation. This has led to a autumn successful prices for chips.
In May, TSMC's largest lawsuit Apple reported overall income fell for the 2nd 4th successful a row.
The planetary smartphone market plummeted 11% in the 2nd quarter compared with a twelvemonth ago, according to a study published Tuesday by information insights supplier Canalys.
But Canalys said determination are signs pointing to a betterment successful the smartphone market.
"The smartphone marketplace is sending aboriginal signals of betterment aft six consecutive quarters of diminution since 2022," said Le Xuan Chiew, expert astatine Canalys. "Smartphone inventory has begun to wide up arsenic smartphone vendors prioritized cutting inventory of aged models to marque country for caller launches."
This is breaking news. Please cheque backmost for updates.
