TSMC reported worse than expected for the first time in two years

The world’s largest semiconductor manufacturer Taiwan Semiconductor Manufacturing Company (TSMC) reported worse than analysts had forecast for the first time in the last eight quarters.

According to the results of the fourth quarter of 2022, TSMC’s revenue amounted to 625.5 billion new Taiwan dollars ($20.6 billion), follows from the monthly data companies. This is 43% higher than the figure for the same period in 2021. However, analysts interviewed Bloomberghad expected quarterly revenue of NT$636 billion.

As the agency notes, the first case in two years when TSMC reported worse than expected, means that even the world leader in the market cannot withstand the fall in demand for electronics caused by rising inflation and interest rates. In addition, the company’s performance was affected by the COVID-19 pandemic, which resulted in numerous lockdowns in China and downtime of the company’s factories in the country.

Kirill Sarkhanyants