Taiwan Semi slips as Q1 sales trail estimates By Investing.com

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Taiwan Semi slips as Q1 sales trail estimates

Published Apr 10, 2023 21:46

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Taiwan Semi slips as Q1 sales trail estimates

TSM

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By Senad Karaahmetovic

Shares of Taiwan Semi (NYSE:TSM) are trading nearly 2% lower in pre-market Monday after the company reported weaker-than-expected sales for March.

TSM said its March revenue was TWD 145.41 billion ($4.77B), down 15.4% year-over-year. On a month-over-month basis, March sales were down 10.9%.

Overall, Q1 sales were reported at TWD 508.63B, rising 3.6% YoY but missing the TWD 525.5B consensus.

Bernstein analysts highlighted the 1Q23 revenue miss but noted the results still "met the low-end of the guide."

The analysts reiterated an Outperform rating on the TSM stock, which is up 21.1% year-to-date.

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