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TSMC says Q1 net profit up 35 pct to T$87.6 bln, misses estimates
April 13, 2017 / 5:41 AM / 8 months ago

TSMC says Q1 net profit up 35 pct to T$87.6 bln, misses estimates

TAIPEI, April 13 (Reuters) - Taiwan Semiconductor Manufacturing Co on Thursday said first-quarter profit rose 35.3 percent from a year prior, below expectations, and after revenue for the world’s largest contract chipmaker and major supplier to Apple Inc missed guidance.

Net profit totaled T$87.63 billion ($2.90 billion) for January-March, traditionally a weak period for the tech sector after the year-end sales rush. That was down from the T$100.2 billion of the fourth quarter of last year, which was a quarterly record.

The result was also worse than the T$88.26 billion median estimate in a Thomson Reuters/Eikon poll.

TSMC earlier this week said first-quarter revenue, at T$233.91 billion, missed the lower end of its guidance for T$236 billion given in January due to a strong Taiwan dollar. ($1 = 30.2260 Taiwan dollars) (Reporting by Jess Macy Yu and J.R. Wu in TAIPEI)

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