TechnologyTSMC's Q1 profit up 19%, beats market estimates

Reuters
1 minute read

The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, Jan. 19, 2021. REUTERS/Ann Wang

Taiwan's TSMC (2330.TW) posted a 19.4% rise in quarterly net profit on Thursday, Reuters calculations showed, boosted by demand for high-end chips from people splurging on devices during COVID-19 and from Apple Inc's (AAPL.O) new iPhone.

Net profit for January-March at Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world's largest contract chipmaker, was T$139.7 billion ($4.91 billion).

That was more than the T$134.01 billion average of 22 analyst estimates compiled by Refinitiv.

($1 = 28.4540 Taiwan dollars)

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