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Chipmaker TSMC cuts revenue, capex goals after Q2 profit rise

Reuters  |  TAIPEI 

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd cut its annual revenue and capital expenditure estimates on Thursday, as the world's largest contract chipmaker braces for slowing growth in the smartphone and cryptocurrency mining industries.TSMC, which makes chips for technology giants such as Apple Inc, Qualcomm Inc and Nvidia Corp, its lowered 2018 revenue growth forecast to a high single digit percent from 10 percent previously, and trimmed its expected capex range to $10-10.5 billion from $10.5-11 billion.For the April-June, TSMC reported a 9 percent rise in net profit from a ...

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First Published: Thu, July 19 2018. 12:57 IST