TSMC 2018 revenue hits new high

TAIPEI (CNA) – Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chip maker, set a new record for annual net revenue in 2018, the company reported Thursday.

TSMC’s revenue for the year passed the NT$1 trillion mark, totaling NT$1.031 trillion (US$33.48 billion), up 5.5 percent from 2017, which was slightly lower than the previous forecast of 6 percent growth, the company said.

In the fourth quarter, the company also registered a record quarterly high of NT$289.771 billion, representing an 11.3 percent increase quarter-on-quarter.

As the demand from Apple Inc. weakened in November and December, the company’s revenue fell to NT$89.831 billion in December, a monthly decline of 8.7 percent and the lowest for five months.

Looking to the future, TSMC is expected to receive fewer orders from Apple and NVIDIA in the first quarter of 2019, a low season for the company, which could see Q1 revenue shrink by about 10 percent, analysts said.

By Chang Chien-chung and Flor Wang