SAN JOSE, Calif. -- Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) reported consolidated revenue of NT$88.14 billion ($2.87 billion) for the second quarter, up a mere 0.8 percent from the previous period and up 17.6 percent a year ago.
Silicon foundry giant TSMC reported net income of NT$28.77 billion ($939 million) in the quarter. Year-over-year, second quarter net income increased 12.9 percent. On a sequential basis, second quarter results represent an increase of 2.2 percent in net income.
Advanced process technologies (0.13-micron and below) accounted for 63 percent of wafer revenues with 90-nm process technology accounting for 28 percent and 65-nm reaching 18 percent of total wafer sales.
''Even with a weakening macroeconomic environment, our second quarter results were either in line with or slightly higher than guidance announced at the end of April, thanks to our continual effort in driving cost reduction and increasing utilization rates,'' said Lora Ho, vice president and chief financial officer of TSMC, in a statement.
The outlook could be dim for TSMC. "Based on our current business outlook, management expects third quarter revenue growth to be below seasonality,'' she said.
For Q3, revenue is expected to be between NT$90 billion ($2.93 billion) and NT$92 billion ($2.998 billion).
Taiwan foundry rival United Microelectronics Corp. (UMC) this week also posted mixed results in the second quarter and warned about the overall business climate in the third period.
This week, China's Semiconductor Manufacturing International Corp. (SMIC) posted another loss. And
Singapore's Chartered Semiconductor Manufacturing Ltd. will ramp its 45-nm process technology this fall amid a bleak business outlook for the chip foundry.
The Singaporean chip maker last week released upbeat results of 18 percent sequential revenue growth and 88 percent capacity utilization for its second quarter. But revenue growth will slump to about four percent and utilization will fall to 84 percent in the coming quarter, executives predicted.