By Kosaku Narioka 

Taiwan Semiconductor Manufacturing Co.’s first quarter web revenue was up 19% from the identical interval a yr earlier on greater revenues because the Covid-19 pandemic continued to drive demand for chips.

The world’s largest contract chipmaker mentioned on Thursday web revenue rose to New Taiwan $ 139.69 billion ($ 4.91 billion). This exceeded the estimate of NT $ 135.76 billion in web revenue from an S&P International Market Intelligence analyst survey.

First quarter income elevated 17% from the earlier yr to NT $ 362.41 billion.

The Covid-19 pandemic has boosted demand for chips used for smartphones, sport consoles, computer systems and different digital units, main to provide constraints in current months.

TSMC mentioned earlier this month that it could make investments US $ 100 billion over the subsequent three years to extend manufacturing capability as demand will increase.

TSMC’s working margin improved to 41.5% within the first quarter, a rise of 0.1 proportion level from the earlier yr, though the margin was 2.0 proportion factors decrease per yr. report back to the earlier quarter.

Smartphone income fell 11% from the earlier quarter, whereas excessive efficiency computing income elevated 14%.

TSMC mentioned income from North American clients was 67% of its first quarter income, up from 73% within the fourth quarter, whereas income from China was 6% of the overall, unchanged from the earlier quarter.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Information Wire

April 15, 2021 02:15 ET (06:15 GMT)

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