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TSMC First-Quarter Net Profit Rose 45% on Year to New Record

   By Kosaku Narioka 
 

Taiwan Semiconductor Manufacturing Co. said Thursday that its first-quarter net profit rose to a new record high thanks to higher revenue and an improvement in margins.

The world's largest contract chip maker said its net profit for the quarter ended March 31 rose 45% compared with the same period a year earlier to 202.73 billion Taiwan dollars (US$6.99 billion). That beat the estimate for NT$183.53 billion from a poll of analysts by S&P Global Market Intelligence.

First-quarter revenue increased 36% from a year earlier to a record-high NT$491.08 billion.

The company's operating profit margin improved by 4.1 percentage points from a year earlier to 45.6%.

The company's revenue from smartphones rose 1% from the previous quarter, while revenue from high-performance computing increased 26%.

TSMC said revenue from customers in North America made up 64% of first-quarter revenue, down from 66% in the final quarter of 2021, while revenue from China accounted for 11% of the total, down from 12% in the previous quarter.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

(END) Dow Jones Newswires

April 14, 2022 02:07 ET (06:07 GMT)

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