Taiwan Semiconductor Manufacturing Company (TSMC) has reported consolidated revenues of NT$79.72 billion (US$2.59 billion) for March 2019, up 30.9% on month but down 23.1% from a year earlier.

TSMC's consolidated sales for the first quarter of 2019 totaled NT$218.7 billion, down 11.8% on year and 24.5% sequentially, but meeting the company's guidance.

TSMC is scheduled to hold its quarterly investors meeting on April 18 to discuss its performance in the first quarter and provide its outlook for the current quarter.

The use of substandard photoresist chemicals that disrupted TSMC's 12/16nm chip production at Fab 14B earlier this year prompted the company to revise its sales guidance for the first quarter to NT$7-7.1 billion from NT$7.3-7.4 billion. The impact will also reduce TSMC's gross margin by 2.6pp, operating margin by 3.2pp, and EPS by NT$0.42, the foundry disclosed previously.

TSMC already described 2019 as "a slow year" for its operations and also the overall semiconductor market, citing macroeconomic uncertainty, and disappointing high-end smartphone sales that have led to inventory pile-ups in the supply chain.

By: DocMemory
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