Major Apple supplier TSMC’s profit surges 60% in Q1, beats forecasts
TSMC, a major Apple supplier and the world’s largest contract chipmaker, posted a 60% jump in first-quarter net profit on Thursday, beating market forecasts as it benefited from surging demand for semiconductors used in artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co saw January-March net profit rise to T$361.6 billion (US$11.12 billion) from T$225.5 billion (US$6.94 billion) a year earlier.
The profit beat a T$354.6 billion (US$10.90 billion) LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.
MacDailyNews Take: Strong.
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Major Apple supplier TSMC’s profit surges 60% in Q1, beats forecasts appeared first on MacDailyNews.
