This was slightly better than what it warned would happen in mid-April when it predicted a 7-8 per cent on-quarter decline.
TSMC has reported consolidated revenues of $2.32 billion for June 2018, down 16.3 percent on year and about 13 percent sequentially. TSMC is scheduled to hold its quarterly investors meeting on July 19 to explain why. It is likely that the poor showing from Apple's iPhone is likely to be to blame. Apple has been slowing down orders with its suppliers as its iPhone cash cow dies.
At its last investors meeting, TSMC estimated revenues in US dollars would fall 7-8 percent sequentially to between $7.8 billion and $7.9 billion in the second quarter. Revenues in US dollars for all of 2018 will increase by up to 10 percent, compared to the previously estimated 10-15 percent. TSMC also cut its growth forecasts for global foundry and overall IC market outlook this year to eight percent and five percent, respectively, compared to nine to 10 percent and five to seven percent estimated previously.