TSMC's First-Quarter Net Profit Gains, Breaking a Three-Quarter Streak of Declines
Provided by
Dow Jones
By Sherry Qin
Taiwan Semiconductor Manufacturing Co.'s first-quarter profit rose, ending three straight quarters of declines, thanks to a surge in demand for advanced chips amid the global artificial intelligence boom.
The world's largest contract chipmaker said Thursday that net profit rose 8.9% compared with the same period a year earlier, to 225.49 billion new Taiwan dollars (US$6.96 billion) for the three months ended Mar. 31. That exceeded the estimate of NT215.40 billion from a FactSet poll of analysts.
First-quarter revenue rose 16.5% on year to NT$592.64 billion after its March revenue gained 34% on year.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
April 18, 2024 01:57 ET (05:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Amazon Earnings: AWS Growth Accelerates and Profit Margins Improve
-
SiriusXM Earnings: Decent Results With Plan for Technology and Content Investment to Drive Growth
-
Coca-Cola Earnings: Solid Volume On Innovation and Digital Engagement
-
Is Berkshire Hathaway a Buy Before the Annual Meeting?
-
Investment Opportunities in the Drug Distribution Industry
-
Why the End of Quantitative Tightening Matters
-
Eli Lilly Earnings: Strong Weight-Loss Drug Sales Expand Margins
-
After Earnings, Is Meta Stock a Buy, a Sell, or Fairly Valued?