A girl walks previous a Taiwan Semiconductor Manufacturing Company (TSMC) brand on the Hsinchu Science Park in Hsinchu on July 5, 2023. (Photo by Sam Yeh / AFP) (Photo by SAM YEH/AFP by way of Getty Images)
Sam Yeh | Afp | Getty Images
Taiwan Semiconductor Manufacturing Company, the world’s largest chipmaker, posted a second-quarter revenue plunge Thursday as demand for shopper electronics continues to stoop.
Here are TSMC’s second quarter outcomes versus Refinitiv consensus estimates:
- Revenue: 480.84 billion New Taiwan {dollars} ($15.68 billion), vs. NT$478.83 billion anticipated
- Net earnings: NT$181.8 billion, vs. NT$172.55 billion anticipated
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TSMC reported income slipped 10% from a yr in the past to NT$480.84 billion, whereas web earnings fell 23.3% from a yr in the past to NT$181.8 billion. The firm had beforehand forecast second-quarter income between $15.2 billion and $16 billion.
Recovery underway?
TSMC is the highest producer of the world’s most superior processors, together with the chips discovered within the newest iPhones, iPads and Macs. But demand for shopper electronics has plunged post-pandemic.
Global demand for laptops and smartphones spiked throughout Covid-19 lockdowns, spurring smartphone and PC makers to stockpile chips. Now these corporations are grappling with extra inventories as shoppers reduce on purchases of those items on account of rising inflation. This has led to a fall in costs for chips.
In May, TSMC’s largest buyer Apple reported general gross sales fell for the second quarter in a row.
The world smartphone market plummeted 11% in the second quarter in contrast with a yr in the past, in accordance with a report revealed Tuesday by information insights supplier Canalys.
But Canalys mentioned there are indicators pointing to a restoration within the smartphone market.
“The smartphone market is sending early signals of recovery after six consecutive quarters of decline since 2022,” mentioned Le Xuan Chiew, analyst at Canalys. “Smartphone inventory has begun to clear up as smartphone vendors prioritized cutting inventory of old models to make room for new launches.”
This is breaking information. Please verify again for updates.
Source: www.cnbc.com”