Taiwan Semiconductor's September revenue falls ~13% Y/Y; Q3 sales dip less than expected
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Taiwan Semiconductor Manufacturing's (NYSE:TSM) 9-month revenue fell 6.2% year-over-year to NT$1.536T.
TSM, a main chipmaker to Apple (AAPL) and Nvidia (NVDA) saw revenue of NT$1.638T for January through September 2022.
The company's revenue for September tumbled 13.4% year-over-year to about NT$180.43B. Month-over-month, TSM's revenue dipped 4.4%; TSM generated NT$188.69B in revenue in August 2023.
According to a Bloomberg report, TSM's Q3 revenue (July through September) slumped 11% year-over-year to NT$546.7B ($17B), However, it surpassed the average estimate of NT$531.5B.
Consensus Revenue Estimate for Q3 is $16.47B.
The demand from artificial intelligence, or AI, companies helped offset slowing sales of smartphone and laptop chips, the report added.
Data centers steering AI are boosting demand for some of TSM's biggest customers, such as Nvidia, and that of memory used with those systems. The preliminary sales figures come as investors look for signals that increasing orders for AI chips are overcoming supply constraints and translating into revenue, and may alleviate worries about an extended sector-wide decline, according to the report.
TSM is scheduled to report Q3 earnings on Oct. 19.

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