April 19, 2018 / 5:41 AM / 6 months ago

TSMC Q1 profit climbs 2.5 pct, lower than market forecasts

TAIPEI, April 19 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world’s largest contract chipmaker, said first-quarter net profit rose 2.5 percent, lagging market forecasts.

TSMC, whose clients include U.S. technology firm Apple Inc , said January-March profit reached T$89.785 billion ($3.06 billion).

That compared with a T$90.50 billion forecast drawn from 19 analysts polled by Thomson Reuters SmartEstimate.

Revenue rose 6.1 percent to T$248.08 billion, compared with the US$8.4 billion to US$8.5 billion range TSMC forecast in January. ($1 = 29.2950 Taiwan dollars) (Reporting by Clare Jim; Editing by Kim Coghill)

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