TSMC cuts capex 10%

Author: EIS Release Date: Oct 20, 2022

TSMC has cut its capex by at least 10% to around $36 billion on fears for the market next year.

 

“We expect probably in 2023 the semiconductor industry will likely decline, but TSMC also is not immune,” said CEO CC Wei.

 

Q3 net profit was up 80% y-o-y at $8.8 billion on revenue which was up 36% y-o-y at $20.23 billion.

 

Q4 revenue is expected to be up 29% y-o-y at $19.9-20.7 billion.

 

The datacentre and auto businesses remain steady, said the company.