TSMC sticks with its revenue forecast after profit tops estimates despite Trump trade worries

Taiwan Semiconductor Manufacturing Company on Thursday maintained its annual revenue forecast after it quarterly beat profit expectations, thanks to a continued surge in demand for AI chips. Here are TSMC's first-quarter results versus LSEG consensus estimates: Revenue: $839.25 billion New Taiwan dollars, vs. NT$835.13 billion expected Net income: NT$361.56 billion, vs. NT$354.14 billion TSMC's net income increased 60.3% from the same period last year to NT$361.56 billion, while net revenue in the March quarter rose 41.6% to NT$839.25 billion. TSMC's high-performance computing division which encompasses artificial intelligence and 5G applications drove sales in the quarter, increasing 7% since the last quarter to account for 59% of total revenue. Meanwhile, the company said advanced technologies, defined as 7-nanometer and less, accounted for 73% of total wafer revenue. In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to gre ... Read full article.