Taiwan’s TSMC reports NT$178 billion revenue for July

Taiwan Semiconductor Manufacturing Co. (TSMC) on Thursday (Aug. 10) said its July revenue was approximately NT$177.62 billion (US$5.58 billion).
TSMC’s July revenue figure was a 13.6% increase from the previous month and a 4.9% decrease from a year earlier. The company said revenue for the first seven months of the year totaled NT$1.17 trillion, representing a 3.7% drop year-over-year.
The Taiwan chipmaker said it expected third quarter revenue to come in around US$17.1 billion, representing a 9.1% increase from Q2, according to CNA. TSMC said it expects strong demand for its 3nm chips to help offset the impact of continuing inventory adjustments from its customers.
Meanwhile, TSMC’s board of directors on Tuesday (Aug. 8) approved a plan for a joint-venture to construct its first European fab in Dresden, Germany. The joint-venture will be 70% owned by TSMC, while its partners for the project, Bosch, Infineon Technologies, and NXP Semiconductors will each have a 10% equity stake. $Taiwan Semiconductor (TSM.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$