TSMC faces Profit Decline amid Chip industry downturn

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TSMC is expected to announce a 30% decline in third-quarter profit on Thursday, reflecting a slowdown in the chip industry.

Taiwan Semiconductor Manufacturing Co Ltd is expected to announce a 30% decline in third-quarter profit on Thursday, reflecting a slowdown in the chip industry. Analysts had anticipated this slump, with the company’s profit estimated at $6 billion for July-September. This marks the second consecutive quarter of profit decline for the world’s largest contract chipmaker, attributing it to the weakened global demand for semiconductors since the latter half of the previous year.

Despite these challenges, TSMC’s stock price has surged due to increased chip demand for artificial intelligence applications. Investors, however, remain cautious as the company navigates uncertainties in customer demand. Reports suggest that TSMC has urged its major suppliers to delay the delivery of high-end chip-making equipment, although the delay is anticipated to be short-term.

TSMC reported its net revenue for September 2023 at approximately NT$180.43 billion, reflecting a 4.4% decrease from August 2023 and a 13.4% decrease from September 2022. The cumulative revenue for January through September 2023 amounted to NT$1,536.21 billion, indicating a 6.2% decrease compared to the same period in 2022.

 

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