Taiwan Semiconductor Manufacturing Company Q1 Profit Rises; Sales Up 11.6%

(RTTNews) - Taiwan Semiconductor Manufacturing Company Limited (TSM) reported first-quarter income before tax of NT$53.30 billion, compared to NT$45.75 billion, previous year. Net income increased to NT$47.87 billion from NT$39.58 billion. Earnings per share was NT$1.85, compared to NT$1.53, a year ago.

Net sales increased to NT$148.22 billion from NT$132.76 billion.

"In the first quarter, we saw much stronger demand for our wafers across all segments but more pronounced in mobile related applications, than we had initially predicted in January," said Lora Ho, CFO of TSMC.

The company expects its second-quarter revenue to be between NT$180 billion and NT$183 billion. Gross profit margin is expected to be between 47.5% and 49.5%; an operating profit margin is expected to be between 36.5% and 38.5%.