Taiwan Semi Stock Rises After Earnings. The Next Quarter Could Be Even Better.

Taiwan Semi Stock Rises After Earnings. The Next Quarter Could Be Even Better.


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TSMC forecast income forward of expectations for the three months ending in June.

Sam Yeh/AFP/Getty Images

Continued demand for chips in every little thing from superior computing to vehicles helped

Taiwan Semiconductor Manufacturing

beat estimates for first-quarter earnings on Thursday —and powerful gross sales are anticipated to proceed.

TSMC(ticker: TSM) notched a revenue of $1.40 a share on income of $17.6 billion within the first three months of 2022. Sales rose 36% 12 months over 12 months and 12% because the final quarter.

The outcomes soundly beat what was anticipated by Wall Street. Analysts had estimated TSMC would report earnings per share of $1.35 on income of $16.7 billion.

Even higher is TSMC’s forecast for the present quarter. The firm expects income within the three months ending in June to be between $17.6 billion and $18.2 billion. The consensus estimate amongst analysts was for second-quarter gross sales to be $17.3 billion.

U.S.-listed shares of TSMC rose greater than 2% in U.S. premarket buying and selling. The shares stay down greater than 21% this 12 months, outpacing a close to 14% decline for the tech-heavy

Nasdaq Composite
index.

“Our first quarter business was supported by strong [high-performance computing] and Automotive-related demand,” Wendell Huang, the group’s chief monetary officer, stated in a press release.“Moving into second quarter 2022, we expect our business to continue to be supported by HPC and Automotive-related demand, partially offset by smartphone seasonality.”

Write to Jack Denton at jack.denton@dowjones.com


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