TSMC lost $92.4 million due to the earthquake in Taiwan

TSMC, a Taiwanese chipmaker, has reported that the largest earthquake in Taiwan in 25 years caused the company to suffer losses of NT$3 billion, or about $92.4 million. This was reported by Reuters.

The company expects the earthquake to also lead to a 50 basis point drop in TSMC’s gross margin in the second quarter.

On the good news, there were no power outages after the earthquake, and there was no damage to fabs or critical equipment.

Despite these losses, the company also reported that its financial results in the second quarter would be better than expected. TSMC expects revenue of $19.6 billion to $20.4 billion.

We remind you that on April 3, 2024, an earthquake with a magnitude of 7.4 occurred in Taiwan. As a result, the company was forced to stop production and evacuate its staff.