TSMC's MAR19 revenue increased more than 30% MoM
TSMC (2330-TW) announced its financial report today on April 10th. Its MAR19 revenue reached NTD79.722bn (+30.9% MoM, -23.1% YoY). Its 1Q19 revenue was NTD218.704bn (-4.5% QoQ, -11.8% YoY), slightly ahead of the estimate.
Due to the defective photoresist chemical incident, TSMC revised down its 1Q19 revenue guidance from US$7.3-7.4bn to US$7.0-7.1bn, (-24~-25.5% QoQ). Calculated by US$1 against NTD30.6, its 1Q19 revenue was estimated at NTD214.2bn to NTD217.3bn (-25~-26% QoQ).
As the result, TSMC’s MAR19 revenue surged. Its 1Q19 revenue reached NTD218.704bn, higher than the estimation of NTD217.3bn. According to the market, robust pull-in demand from Huawei leads the supply chain’s revenue momentum to grow. TSMC, as the main wafer production company, was catalyzed directly. Moreover, although TSMC was affected by the defective photoresist chemical incident in 1Q19, the affected wafers were successively replenished.
On the other hands, Institutional investors expect that as NTD become stable in 1Q19, TSMC’s revenue in US dollar is expected to slightly ahead of the estimate as well.