TSMC shares fell nearly 3% in premarket trading.
Taiwan Semiconductor Manufacturing Co. reported an 11% increase in quarterly profit, underscoring how the company has benefited from a global chip shortage that’s driven up orders from the automotive and other industries.
Net income for the quarter ended in June rose to NT$134.4 billion ($4.8 billion), slightly below the average analyst estimate of NT$136.15 billion. Revenue came in at NT$372.15 billion based on previously released monthly sales figures.
On Thursday, TSMC said on an analyst call that the auto chip shortage will gradually reduce for its customers from this quarter but expects overall semiconductor capacity tightness to extend possibly into next year.
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