HSINCHU, Taiwan (AP) — HSINCHU, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co. (TSM) on Thursday reported first-quarter profit of $18.12 billion.
The Hsinchu, Taiwan-based company said it had net income of $3.49 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.31 per share.
The chip company posted revenue of $35.9 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $35.5 billion.
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