TAIPEI, April 17 Taiwan Semiconductor
Manufacturing Co Ltd beat analyst estimates by
reporting a 21 percent rise in first-quarter profit, as the
world's largest contract chip maker enjoyed a demand boost from
mobile device manufacturers.
Net profit reached T$47.9 billion ($1.59 billion) in
January-March, the company said in a statement on Thursday. That
compared with the T$43.2 billion mean estimate of 19 analysts
polled by Thomson Reuters.
The company previously reported an 11.7 percent rise in
first-quarter revenue at T$148.22 billion.
Shares of TSMC have risen about 15 percent since the start
of the year versus 2.8 percent in the Taiwan SE Weighted Index
. Before the earnings release, they closed 0.83 percent
lower compared with a 0.23 percent rise in the benchmark.
($1 = 30.1440 Taiwan Dollars)
(Reporting by Michael Gold; Editing by Christopher Cushing)