TSMC updates 1Q'14 guidance

Compared to the guidance offered by the Company on January 16, 2014, first quarter revenue, gross profit margin and operating profit margin are all expected to exceed the high end of the guidance. First quarter revenue is expected to be about NT$147 billion. Gross profit margin is expected to be about 47% and the operating profit margin is expected to be about 35%. “The upside to the first quarter guidance comes mainly from the increases in demand for our 28-nanometer wafers and from customers’ active restocking of their inventory,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “The first quarter upside is perhaps a good prelude to an already anticipated strong year.”