TSMC reported sales of NT$58.52 billion ($1.84 billion) for the second quarter, up 5.1 percent from the previous period but down 9.8 percent from the like period a year ago.

Net income came in at NT$18.37 billion ($576 million) in the second quarter, down 21.5 percent from a year ago, but up 9.2 percent from the previous quarter.

The increase in second quarter revenue mainly resulted from a 14.5 percent increase in wafer shipments. But average selling prices (ASPs) fell 5.4 percent during the period, according to TSMC.

Revenues from advanced process technologies (0.13-micron and below) accounted for 43 percent of total wafer sales, compared to 45 percent previously.

“Due primarily to demand recovery from our customers, our second quarter business had improved better than we guided previously,” said Lora Ho, vice president and chief financial officer of TSMC, in a statement. “We expect the recovery to continue for the coming quarter.”

For Q3, wafer shipments are expected to increase by a mid-teen percentage point sequentially. ASPs are projected to decline by a low-to-mid single digit percentage point sequentially.

Overall utilization rate is projected to exceed 90 percent in the period, according to TSMC.

By: DocMemory
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