TSMC overnight reported Q2 EPS of 33c, slightly ahead of the 32c consensus. The company's revenue came in up 21.6% year-over-year to NT$155.89B while its gross margin for the quarter was 49%. The company added, "While we continue to expect the demand for our advanced technologies to grow strongly, we expect the IC supply chain to begin managing inventories in the second half of this year, which will moderate somewhat the overall demand for our wafers." With this in mind, TSMC predicted Q3 revenue will be NT$161M-NT$164B and gross profit margin will be 47%-49%. Following the earnings and guidance, shares of TSMC are down 8%, or $1.55, to $16.90.