TSMC Q1 Profit Declines YoY; Revenue Down 11.8% - Quick Facts

(RTTNews) - Taiwan Semiconductor Manufacturing Co Ltd. (TSM) reported first-quarter net income of NT$61.39 billion, and diluted earnings per share of NT$2.37, down 31.6% from previous year. First-quarter consolidated revenue was NT$218.70 billion, down 11.8% from prior year. In US dollars, revenue was $7.10 billion, a decline of 16.1% year-over-year.

"In the first quarter, our business was impacted by the overall global economic condition which dampened the end market demand. Meanwhile, the net effect from the photoresist defect material incident also impacted our first quarter revenue by about 3.5 percent," said Lora Ho, CFO of TSMC.

For second quarter 2019, the company expects revenue to be between $7.55 billion and $7.65 billion.