Taiwan Semiconductor Manufacturing Company’s logo is seen in the background beside a printed circuit board.
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Taiwan Semiconductor Manufacturing Company on Thursday reported a 58% increase in first-quarter profit, beating estimates and hitting a fresh record as demand for artificial intelligence chips stayed strong.
Here are the company’s results versus LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
Revenue: 1,134 billion new Taiwan dollars ($35 billion), vs. NT$1.127 trillion expected Net income: NT$572.48 billion, vs. NT$543.32 billionTSMC’s net income for the three months ended in March represents a fourth consecutive quarter of record profits.
The company’s revenue rose to NT$1.134 billion, beating estimates. It had first reported the 35% year-on-year rise in first-quarter revenue last week.
TSMC, Asia’s largest technology company by market capitalization, has maintained sustained demand for advanced semiconductors from its key customers, such as Apple, even as concerns persist about supply chain disruptions from the Middle East conflict and the potential impact on demand.
The chip giant has also benefited greatly from the proliferation of AI, producing advanced processors designed by the likes of Nvidia — now the company’s largest customer — and AMD.
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