The logo of Taiwan Semiconductor Manufacturing Co is pictured at its headquarters, in Hsinchu, Taiwan, on Jan 19, 2021. TAIPEI: Taiwanese chipmaker TSMC posted a 9 per cent rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.
TSMC, Asia's most valuable listed company, said first-quarter revenue rose 13 per cent year-on-year to US$18.87 billion, better than the company's previous forecast of US$18 billion to US$18.8 billion. The company last week announced first quarter revenue in Taiwan dollars, coming in at NT$592.64 billion.
TSMC's Taipei-listed shares have surged 36 per cent so far this year. The stock was flat on Thursday ahead of the results versus a 0.4 per cent gain for the benchmark index.
Semiconductors
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