Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) first-quarter net profit almost doubled, beating analyst estimates, as strong demand for faster chips helped offset disruptions caused by the coronavirus pandemic. The world’s largest contract chipmaker, whose clients include tech companies such as iPhone maker Apple Inc, said profit in the January-to-March period was T$116.987 billion ($3.89 billion), up 90.6% from a year earlier. Buoyed by demand for advanced chips from clients investing in 5G technology and artificial intelligence, TSMC’s revenue rose 45.2% to $10.31 billion, versus its forecast range of $10.2 billion to $10.3 billion. …read more
Source:: Yahoo Finance
