Taiwan Semiconductor Manufacturing Company (TSMC) saw its first-quarter revenues miss its target range, whereas fellow foundry companies United Microelectronics (UMC) and Vanguard International Semiconductor (VIS) both managed to meet their guidance.

TSMC has reported consolidated revenues of NT$85.88 billion (US$2.8 billion) for March 2017, up 20.2% sequentially and 17.5% on year. Revenues totaled NT$233.91 billion for the first quarter, coming below its guidance range of NT$236-239 billion, however.

If excluding the impact of the strong-than-expected NT dollar, TSMC's revenues for the first quarter of 2017 would have come to NT$239.91 billion slightly above the company's guidance. "Due to a stronger-than-expected appreciation of the NT dollar against the US dollar during the January-March period, our three-month revenue was reduced by approximately NT$6 billion," the company said in a statement.

TSMC will hold its quarterly investors meeting on April 13 to discuss further details of its performance during the first quarter and provide a business outlook.

UMC posted March consolidated revenues of NT$12.75 billion, up 6.1% on month. Revenues for the first quarter of 2017 slid 2.3% on quarter to NT$37.42 billion, which came slightly above its estimate of an about 4% sequential decrease.

Specialty IC foundry VIS' revenues for March 2017 increased 26.4% sequentially and 9.9% from a year earlier to about NT$2.4 billion. Revenues for the first quarter totaled NT$6.26 billion, down about 5% sequentially but meeting the company's guidance of NT$6.25-6.55 billion.