TSMC Shares Drop Although Its Q1 Profit Jumps 58% to Record, Beats Expectations

Tiger Newspress04-16 19:14

TSMC posted a ‌58% jump in first-quarter net profit on Thursday, ​beating market forecasts ​and hitting a record, ⁠as it benefits ​from huge appetite globally ​for its artificial intelligence processors.

The company saw January-March ‌net ⁠profit rise to T$572.5 billion ($18.2 billion).

The profit handily beat a ​T$543.3 billion ​LSEG ⁠SmartEstimate, which is weighted toward ​forecasts from analysts ​who ⁠are more consistently accurate.

TSMC also raised its revenue outlook for 2026, an upbeat forecast that underscores the resilience of AI chip demand despite concerns about the economic fallout from the Middle Eastern conflict.

While TSMC shares dropped 2.7% in premarket trading.

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