TAIPEI — The world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), reported first-quarter revenue of T$1.134 trillion ($35.71 billion) on Friday, rising 35 percent on the year to beat market forecasts on surging interest in artificial intelligence (AI) applications.
January-March revenue of T$1.134 billion compared with T$839.3 billion in the year ago period. The brief statement gave no other details.
The results topped an LSEG SmartEstimate of T$1.125 billion from 20 analysts, and was in line with TSMC’s January guidance of $34.6 billion to $35.8 billion on its last earnings call.
TSMC only gives guidance in US dollars.
TSMC will report full first-quarter earnings on April 16, including an updated outlook for the current quarter and the full year.
The company, whose customers include Nvidia, has been a major beneficiary of advances in AI, which has more than offset a tapering-off in pandemic-led demand for chips used in consumer electronics like tablets.
TSMC’s Taipei-listed shares have gained 29 percent this year, versus a rise of 22 percent in the benchmark index. Its shares closed up 2.3 percent on Friday.
Taiwan’s Foxconn, the world’s largest contract electronics maker and Nvidia’s biggest server maker, has also reported bumper sales, with an-year rise of 30 percent in first-quarter revenue.
