TSMC first quarter profit almost doubles on chip demand but sees flat growth in second half [Reuters]
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Source: Reuters
TSMC first quarter profit almost doubles on chip demand but sees flat growth in second half TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) net profit almost doubled in the first quarter but it warned of flat revenue growth in the second half as weakening demand caused by the coronavirus offset strong sales for faster chips. The world’s largest contract chipmaker, whose clients include tech companies such as iPhone maker Apple Inc, said profit in the January-to-March period was T$116.987 billion ($3.89 billion), up 90.6% from a year earlier. It was much higher than the T$105.83 billion average of 19 analyst estimates compiled by Refinitiv. “Our second-half revenue is about flattish or may decline slightly,” Chief Financial Officer Wendell Huang told a briefing on Thursday, citing what the company saw as a “temporary” impact on demand from the coronavirus, which TSMC expects to be stabilised by June. Huang said the coronavirus was expected to hit demand for electr
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