TSMC Sees Q1 Revenue Near Lower End Of Guidance Due To Earthquakes

TSMC, the world's largest contract chipmaker, said that its first-quarter revenue would be closer to the lower end of its guidance due to a $161 million impact from an earthquake that struck Taiwan in January, Faith Hung reported for Reuters.

TSMC estimated losses from the earthquake in southern Taiwan at approximately NT$5.3 billion ($161 million), net of insurance claims. I Photo: Peellden Wikimedia Commons

Taiwan Semiconductor Manufacturing Co. (TSMC), the leading producer of advanced chips and a key supplier to companies such as Apple and Nvidia, estimated losses from the earthquake in southern Taiwan at approximately NT$5.3 billion ($161 million), net of insurance claims.

As a result, the company stated that its revenue forecast "is now anticipated to be closer to the lower end of the guidance range of $25 billion to $25.8 billion."

The earthquake led to the scrapping of some semiconductor wafers, but there was no structural damage to its chip production facilities, and normal operations have resumed. TSMC is working to recover the lost production, and there is no change to its full-year outlook.