TSMC Reports Q2 Net Profit of 7.4 Trillion KRW... Quarterly Net Profit Declines for the First Time in 4 Years

TSMC, the world's largest foundry company, announced on the 20th that both its sales and net profit for the second quarter of this year decreased compared to the same period last year. This is the first time in four years since the second quarter of 2019 that TSMC's quarterly net profit has declined.

On this day, TSMC reported that its second-quarter net profit was NT$181.8 billion (approximately KRW 7.4 trillion), down 23.3% from the same period last year.

Second-quarter sales amounted to NT$480.8 billion (approximately KRW 19.7 trillion), a 10% decrease compared to the same period last year.

Although net profit and sales decreased, the results were considered better than market expectations. The market's net profit forecast compiled by financial information provider Refinitiv was NT$172.5 billion (approximately KRW 7.05 trillion).

While TSMC's second-quarter performance exceeded market expectations, it could not avoid the global semiconductor market downturn. In particular, with the sales of its largest customer, Apple, declining for two consecutive quarters, the semiconductor slump caused by the decrease in global smartphone demand is becoming more apparent.

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