IC distributors WPG and WT Microelectronics outperformed the upper end of their respective second-quarter revenue guidance ranges.
WT Micro reported an 11% increase in June revenue to NT$40.8 billion (US$1.3 billion). Despite a 2% sequential drop, revenue totaled NT$117.5 billion in the second quarter of 2023, exceeding the company's high-end target of NT$110 billion.
WT Micro's cumulative 2023 revenue through June came to NT$237.6 billion, down around 8% from a year earlier.
WT Micro's second-quarter revenue for 2023 should have reached its lowest point, according to previous reports quoting company chairman Eric Cheng. In the second half of the year, the company anticipates a sequential increase in revenue as inventory adjustments revert to normal.
WPG's June revenue increased 3.4% sequentially to NT$55.54 billion. Revenue for the second quarter increased 8.2% year on year to NT$156.69 billion, exceeding the company's sales guidance range of NT$142 billion to NT$152 billion.
WPG generated revenue of NT$301.44 billion in the first half of 2023, down 26.3% on year.
WPG is actively deploying in the EV and self-driving system-related fields, company VP Scott Lin was quoted as saying in previous reports. The IC distributor continues to see growing sales generated from the automotive sector despite a decline in overall revenue thus far this year.
The overall end-market demand this year is still uncertain due to global uncertainties, according to Lin. It remains to be seen whether there will be a recovery in the third quarter and second half.
Article translated by Jessie Shen
