Taiwan’s TSMC announced higher-than-expected quarterly profit growth and forecasts up to 37% increase in sales this quarter as the global processor crisis kept order books full and allowed processor manufacturers to charge high prices.
TSMC, the world’s largest processor maker and a major supplier to Apple, reiterated that it expects processor availability to remain very limited this year, with shortages already leading automakers and electronics makers to cut production.
Taiwan Semiconductor Manufacturing forecasts revenue of $ 17.6-18.2 billion in the quarter to June 30, up from $ 13.29 billion a year ago.
The company expects demand for processors to continue in the long run and is working with its customers to mitigate shortages, the CEO said, referring to “growth” in the industry, supported by demand for 5G and artificial intelligence, as well as the demand for processors used in gadgets.
Taiwan Semiconductor Manufacturing said net profit for the January-March quarter was up 45% year-on-year to Taiwan $ 202.7 billion ($ 7 billion).
Analysts expected a profit of 184.67 billion Taiwan dollars. Revenue rose 36% to $ 17.57 billion, higher than the estimate, and higher than the company ‘s estimate of $ 16.6-17.2 billion.
Source: Capital
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