, 7 tweets, 2 min read Read on Twitter
$TSMC's 1Q earnings and margins are all worse than expected. Its 1Q net income is 4.9% below estimates. 1Q operating margin drops to 29.4%, also worse than estimate of 31.8%, vs company's guidance of 29%-31%. And 1Q gross margin falls to 41.3% vs estimate of 43.2%.
That doesn't bode well for stock performance tomorrow. #VolQ
The miss at the operating level should be of great concern to investors. It's the largest miss since the financial crisis. Brutal because this takes into account revised guidance after yet another internal manufacturing problem that it encountered during the quarter.
Tomorrow is today - just quoting BBG btw
TSMC Operating Profit Is Worst Miss Since Credit Crisis (BBG)
$TSMC (JPM - 15/04/19)
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