The world’s largest contract chipmaker booked NT$534.1 billion ($17.9 billion) of revenue for the second quarter, according to Bloomberg’s calculations, compared with the average analysts’ estimate of NT$519 billion.
The results from Apple Inc.’s most important chipmaker may allay investors’ worst fears about the impact of weakening demand and soaring costs on the $550 billion semiconductor industry. On Thursday, Samsung Electronics Co. also reported a better-than-anticipated 21% jump in revenue, triggering an Asian stock rally.
A good sign ahead of earnings season
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