TSMC set to report 5% rise in first quarter profit on strong artificial intelligence chip demand
- TSMC is set to report a net profit of US$6.74 billion for the quarter ended March 31, according to an LSEG SmartEstimate drawn from 22 analysts
- The AI boom has helped drive up the price of shares in Asia’s most valuable company, with TSMC’s Taipei-listed stock having surged more than 30 per cent so far this year
Taiwan Semiconductor Manufacturing Co (TSMC), the dominant producer of advanced chips used in artificial intelligence (AI) applications, is expected to report a 5 per cent rise in first-quarter profit on Thursday thanks to strong demand.
The world’s largest contract chip maker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has helped it weather the tapering off of pandemic-led electronics demand and pushed TSMC’s stock to a record high.
TSMC is set to report a net profit of T$218.1 billion (US$6.74 billion) for the quarter ended March 31, according to an LSEG SmartEstimate drawn from 22 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.
That compares to the first-quarter net profit of T$206.9 billion last year.
TSMC last week reported a 16.5 per cent rise in first-quarter revenue, beating market expectations and at the high end of the company’s own guidance.