Why Taiwan Semiconductor Stock Slipped Today
Shares of Taiwan Semiconductor Manufacturing Company (NYSE: TSM) stumbled in early-afternoon trading Monday, down 2.9%, after the Korean contract semiconductor manufacturer released monthly figures showing a month-over-month decline in revenue.
TSMC's results showed a 10.9% decline in revenue, contracting 145.41 billion Taiwan dollars. Year over year, the month's revenues declined 15.4%.
On the plus side, for the full first quarter -- January through the end of March -- revenues increased 3.9% year over year to 508.63 billion Taiwan dollars, or about US $16.7 billion. On the minus side, both the March figures, and those for the entire Q1 period, were a bit weaker than consensus estimates.
Source Fool.com
