TSMC misses guidance in 1Q17

April 11, 2017 // By Peter Clarke
Leading foundry Taiwan Semiconductor Manufacturing Co. Ltd. has reported its sales for March and with them its revenue for 1Q17, which came in below the guidance issued back in January 2017.

In March TSMC's revenue was NT$85.88 billion (about $2.80 billion) an increase of 17.5 percent from the company's revenue in the same month a year before. Revenues for January through March 2017 totaled NT$233.91 billion (about $7.63 billion), an increase of 14.9 percent compared to the same period in 2016.

With the publishing of its fourth quarter and full year results for 2016 TSMC had said it expected its 1Q17 sales revenue to be in the range NT$236 billion to $239 billion.

The company ascribed the miss to stronger-than-expected appreciation of the NT dollar against the US dollar during the January-to-March period. TSMC said that without that appreciation it would have hit the top end of guidance.

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