TSMC July sales down slightly month-on-month
Taipei, Aug. 12 (CNA) Sales of Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, were disappointing in July, down slightly from a month earlier despite the semiconductor industry entering its traditional peak quarter.
In a statement, TSMC said it posted consolidated sales of NT$84.76 billion (US$2.70 billion) in July, down 1.3 percent from a month earlier and lower than market expectations of at least NT$90 billion.
The July sales were 14 percent higher, however, than during the same month in 2018 and were the second highest for any month in 2019 trailing only the NT$85.87 billion in sales posted in June, TSMC financial data showed.
TSMC did not offer any explanation for the month-on-month decline, but it maintained its sales guidance for the third quarter at between US$9.1 billion and US$9.2 billion, up 18 percent from the second quarter.
Based on that forecast, which was made in mid-July, analysts said TSMC could generate NT$98.7 billion to NT$100.2 billion in consolidated sales in both August and September.
TSMC said at the time that it expected to benefit from strong demand from clients that produce smartphones, high-performance computing devices, the internet of things and automotive applications in the third quarter.
It was also bullish on the second half of the year, expecting fourth quarter sales to top third quarter sales due to global efforts in 5G technology development.
In the first seven months of 2019, TSMC's consolidated sales totaled NT$544.46 billion, down 2 percent from a year earlier.
TSMC released the July sales data after Taiwan's stock market closed. Shares of TSMC, the most heavily weighted stock in the market, ended down 0.99 percent to close at NT$251.00, pushing down the broader market by 0.21 percent Monday.
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