TAIPEI (Reuters) -Taiwanese chipmaker TSMC posted a 23.3% fall in second-quarter net profit on Thursday as global economic woes dented demand for chips used in applications as varied as cars, cellphones and servers and coming off a strong period last year.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a major Apple Inc supplier, saw April-June net profit drop to T$181.8 billion ($5.85 billion) from T$237.0 billion a year earlier.
That compared with the T$172.55 billion average of 21 analyst estimates compiled by Refinitiv.
TSMC, Asia’s most valuable listed company, said second-quarter revenue dropped 13.7% year-on-year to $15.68 billion, in line with the company’s previous forecast.
TSMC’s Taipei-listed shares fell 27.1% in 2022, but are up around 30% so far this year, giving the chipmaker a market value of $486.5 billion. The stock fell 0.3% on Thursday versus a 0.3% rise in the benchmark index.
($1 = 31.0580 Taiwan dollars)
(Reporting by Yimou Lee and Sarah Wu; Writing by Ben Blanchard; Editing by Jacqueline Wong & Shri Navaratnam)
