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TSMC updates its forecast
Taiwanese Semiconductor Manufacturing Company is expecting its third-quarter revenues to exceed the company's guidence given back in July due to a more favorable US dollar exchange rate to the NT dollar.
The company now expects its third-quarter revenue to be between NT$ 211 billion and NT$ 213 billion (USD 6.37 – 6.43 billion), and both gross profit and operating profit margins to be within the range of its July guidance of 47% to 49% for the gross profit margin and 36.5% to 38.5% for the operating profit margin.
However, TSMC expects its fourth-quarter revenue will experience a sequential decline and is likely to be between NT$ 198 billion and NT$ 204 billion (USD 5.98 – 6.16 billion), with profit margin rates similar to its third quarter. As a result, the company expects its full-year revenue growth rate will still be close to double digits from 2014.
