TSMC Raises 2020 Sales Outlook After Profit Smashes Estimates

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. raised its full-year revenue forecast again after posting a stronger-than-expected 36% increase in profit, buoyed by orders from Apple Inc. ahead of the new iPhones.The world’s largest contract chipmaker now expects 2020 sales to climb more than 30% in dollar terms, compared with a previous forecast of growth of more than 20%. For the current quarter, revenue should be between $12.4 billion and $12.7 billion, while gross margin will be between 51.5% and 53.5%, Chief Financial Officer Wendell Huang told analysts.Previously disclosed monthly numbers showed sales climbed to a record NT$356.4 billion ($12.4 billion) …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.