Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a significant Apple Inc and Nvidia provider, has benefited from a surge in the direction of AI that has helped it climate the truly fizzling out of pandemic-led electronics demand and pushed TSMC’s inventory to a report excessive.
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TSMC noticed January-March internet revenue rise to T$225.5 billion ($6.98 billion) from T$206.9 billion a yr earlier.
The revenue beat a T$218.1 billion LSEG SmartEstimate, which is weighted towards forecasts from analysts who’re extra constantly correct.
TSMC, Asia’s most useful listed firm, mentioned first-quarter income rose 13% year-on-year to $18.87 billion, higher than the corporate’s earlier forecast of $18 billion to $18.8 billion. The corporate final week introduced first quarter income in Taiwan {dollars}, coming in at T$592.64 billion.
Capital expenditure within the first quarter was $5.77 billion, TSMC mentioned, in contrast with $5.24 billion within the fourth quarter of 2023.
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TSMC’s Taipei-listed shares have surged 36% up to now this yr. The inventory was flat on Thursday forward of the outcomes versus a 0.4% acquire for the benchmark index. The corporate will present updates on its outlook for the present quarter and the remainder of the yr on an earnings name beginning at 0600 GMT, together with capital expenditure which it has beforehand guided as being within the vary of $28 billion to $32 billion this yr, in contrast with final yr’s $30.45 billion.
On Wednesday, ASML, the biggest provider of apparatus to pc chip makers like TSMC, reported weaker than anticipated first-quarter new bookings, although gross sales to China held up regardless of U.S.-led restrictions. ($1 = 32.3190 Taiwan {dollars})
