TSMC’s Q1 revenue up 45%, beats market estimates

TAIPEI: Taiwanese chip agency TSMC posted a forty five% leap in quarterly internet revenue on Thursday, boosted by booming semiconductor demand throughout the COVID-19 pandemic that has led to a world chip crunch.

Web revenue for January-March at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a significant Apple Inc provider, rose to T$202.7 billion ($7 billion) from T$139.7 billion a 12 months earlier.

That in contrast with the T$184.67 billion common of 19 analyst estimates compiled by Refinitiv.

The corporate, which additionally has clients similar to Qualcomm Inc, has beforehand mentioned it anticipated robust development to speed up in coming years as a consequence of strong demand for chips that energy the whole lot from smartphones to vehicles and lifted capital spending for this 12 months.

TSMC’s income for the quarter climbed 36% to $17.57 billion, above the corporate’s prior estimated vary of $16.6 billion to $17.2 billion.

The corporate has mentioned it anticipated chip capability to stay tight this 12 months, a scarcity of which has compelled automakers and electronics producers to chop manufacturing however retaining order books full at TSMC and different chipmakers.

Shares of TSMC have fallen about 6.8% to this point this 12 months, giving the agency a market worth of $511.1 billion. The inventory closed flat on Thursday, in contrast with a 0.3% fall for the benchmark index. – Reuters


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