TSMC Q2 earnings seen down 27% y/y, Q3 looks better

TAIPEI: Taiwanese chipmaker TSMC is expected to report a 27% fall in second-quarter net profit on Thursday, as global economic woes dent demand for semiconductors, though analysts say business performance is likely to improve in the current quarter.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a major Apple and Nvidia supplier, is likely to report net profit for the April-June period of T$172.53 billion ($5.58 billion), down from T$237.0 billion a year earlier, according to the average of 21 analysts polled by Reuters.