The logo of Taiwan Semiconductor Manufacturing Company is visible in the background next to a printed circuit board.
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Taiwan Semiconductor Manufacturing Co. on Thursday reported a 58% rise in first-quarter profit, beating estimates and setting a new record as demand for artificial intelligence chips remained strong.
Here are the company’s results versus LSEG SmartEstimates, which are based on analysts’ forecasts that are consistently more accurate:
- Revenue: 1,134 billion New Taiwan dollars ($35 billion), versus NT$1.127 trillion expected
- Net income: NT$572.48 billion, versus NT$543.32 billion
TSMC’s net income for the three months ended in March represents its fourth consecutive quarter of record profits.
The company’s revenue exceeded estimates by NT$1.134 billion. It last week reported a 35% year-over-year increase in first-quarter revenue.
TSMC, Asia’s largest technology company by market capitalization, has maintained steady demand for advanced semiconductors from its key customers such as Apple, even as concerns remain about supply chain disruptions and the potential impact on demand from the Middle East conflict.
The chip giant has also benefited greatly from the spread of AI, producing advanced processors with designs like NVIDIA – Now the company’s largest customer – and AMD.
