TSMC’s first-quarter net profit rose 45% to record high

TMSC's operating profit margin improved by 4.1 percentage points from a year earlier to 45.6% (Photo: AFP) — TMSC's operating profit margin improved by 4.1 percentage points from a year earlier to 45.6% **(Photo: AFP)**

1 min read . Updated: 14 Apr 2022, 07:27 PM IST Kosaku Narioka, The Wall Street Journal

Taiwan Semiconductor Manufacturing Co. said Thursday that its first-quarter net profit rose to a record high thanks to higher revenue and an improvement in margins

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The world’s largest contract chip maker said its net profit for the quarter ended March 31 rose 45% compared with the same period a year earlier to 202.73 billion Taiwan dollars (US$6.99 billion). That beat the estimate for NT$183.53 billion from a poll of analysts by S&P Global Market Intelligence.

First-quarter revenue increased 36% from a year earlier to a record-high NT$491.08 billion.

The company’s operating profit margin improved by 4.1 percentage points from a year earlier to 45.6%.

The company’s revenue from smartphones rose 1% from the previous quarter, while revenue from high-performance computing increased 26%.

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TSMC said revenue from customers in North America made up 64% of first-quarter revenue, down from 66% in the final quarter of 2021, while revenue from China accounted for 11% of the total, down from 12% in the previous quarter.

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