April 18, 2019 / 5:44 AM / 8 months ago

TSMC Q1 net profit falls 31.6 pct, just below market forecasts

TAIPEI, April 18 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC),, the world’s largest contract chipmaker, posted on Thursday a 31.6 percent fall in first-quarter net profit, amid fears of slowing demand for electronics denting its business.

TSMC, whose clients include iPhone maker Apple Inc, said January-March profit was T$61.4 billion ($1.99 billion). That compared with the T$64.3 billion average of 21 analyst estimates compiled by Refinitiv.

Revenue fell 11.8 percent to T$218.7 billion ($7.10 billion), versus the company’s previous estimated range of $7.0 billion to $7.1 billion, and compared with the $7.15 billion average of 22 analyst estimates. ($1 = 30.8150 Taiwan dollars) (Reporting by Yimou Lee and Roger Tung; Editing by Christopher Cushing)

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