TSMC Warns of Bigger Currency Hit to Revenue in Third-Quarter

Taiwan Semiconductor Manufacturing Co.’s third-quarter performance is likely to face a bigger hit from a strong local currency following headwinds in the previous period, according to Chief Financial Officer Wendell Huang.

With nearly all of the chipmaker’s sales in US dollars, fluctuations in exchange rate have a “sizable impact” on revenue and gross profit margin, Huang said during the firm’s second-quarter earnings call Thursday. The chipmaker reports its financial statements in local currency.