TSMC upgrades financial guidance
TSMC has updated its first quarter 2014 guidance and has provided additional comments on its outlook for this period.
Compared to the guidance offered by the company on January 16th, 2014, first quarter revenue, gross profit margin and operating profit margin are all expected to exceed the high end of the guidance.
First quarter revenue is expected to be about NT$147 billion. Gross profit margin is expected to be about 47 percent and the operating profit margin is expected to be about 35 percent.
"The upside to the first quarter guidance comes mainly from the increases in demand for our 28-nanometre wafers and from customers' active restocking of their inventory," comments Lora Ho, SVP and Chief Financial Officer of TSMC. "The first quarter upside is perhaps a good prelude to an already anticipated strong year."
