The world’s largest contract chipmaker, whose prospects embrace Apple and Nvidia, has benefited from a surge in direction of AI that has helped it climate the really fizzling out of pandemic-led demand and pushed TSMC’s inventory to a document excessive.
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Income within the first three months of this yr got here in at T$592.64 billion ($18.54 billion), up from $16.72 billion within the year-ago interval.
That was in direction of the upper finish of Taiwan Semiconductor Manufacturing Co’s (TSMC) earlier prediction for first-quarter income to vary between $18 billion and $18.8 billion.
The end result beat an LSEG SmartEstimate of T$581.45 billion drawn from 23 analysts, weighted towards those that are extra persistently correct.
The primary half of the yr is historically quieter for Taiwanese tech companies, coming after the end-of-year vacation rush for items like tablets and smartphones in main Western markets, however the AI pattern is boosting demand even within the off season.
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For March alone, TSMC reported income rose 34.3% year-on-year to T$195.21 billion and was up 7.5% from the earlier month. TSMC, Asia’s most dear publicly listed firm with a market capitalisation of $662 billion, didn’t present any particulars or ahead steerage in its transient income assertion.
It’s scheduled to report first quarter earnings on April 18, the place it would additionally replace its outlook for the present quarter and the yr.
TSMC is anticipated to report a 4% rise in first quarter internet revenue, in keeping with an LSEG SmartEstimate.
TSMC’s Taipei-listed shares closed down 0.5% on Wednesday forward of the discharge of the gross sales information. The broader market ended down 0.2%.
The chipmaker’s shares have surged 37% thus far this yr, in contrast with a 16% achieve for the broader market.
(Reporting by Ben Blanchard and Religion Hung; Enhancing by Kim Coghill and Jamie Freed)
