TSMC Shares Jump 4% As Its Q1 Profit Rises 2% Y/Y, Beats Market Expectations

Tiger Newspress2023-04-20

TSMC shares jumped 4% in morning trading as its Q1 profit rose 2% y/y, beat market expectations.

Taiwanese chipmaker TSMC posted a 2% rise in first-quarter net profit on Thursday beating market expectations but still the smallest quarterly growth in almost four years as global economic woes dented demand for chips.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, saw January-March net profit rise to T$206.9 billion ($6.76 billion) from T$202.7 billion a year earlier.

That compared with the T$192.8 billion average of 21 analyst estimates compiled by Refinitiv.

TSMC, Asia's most valuable listed company, said first-quarter revenue dropped 4.8% year-on-year, in line with the company's previous forecast.

Analysts said TSMC sales will be under pressure in the second quarter, which is traditionally a slow season for electronics manufacturers and as major clients cut back on orders.

($1 = 30.6210 Taiwan dollars)

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Comments

  • GoodLife99
    2023-04-20
    GoodLife99
    Good news for me! Any other thoughts?
  • chaicka
    2023-04-20
    chaicka
    Be careful. Have a deep understanding of semiconductor industry and evaluate TSMC in its entirety (including US yet to be production plant). Warren Buffet really amazed me despite not giving away much of what he knows that drove his exit on TSMC. Typical of him to never say things that will get him into trouble, offending anyone. But he KNOWS. 😁 The show shall begins as it gets closer to TSMC US plant going production, and any further expansion.
  • miker9110
    2023-04-20
    miker9110
    G
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