Proactive Investors - Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) is expected to report a jump in profits for the first quarter when it releases its latest financial report after the stock market closes on Thursday, April 18.
The Taiwan chipmaker, whose customers include Nvidia (NASDAQ:NVDA) and Apple (NASDAQ:AAPL), has benefitted from the surge in demand for chips for AI applications.
For the quarter that ended March 31, TSMC is expected to report an approximately 5% year-over-year increase in profits to US$7.71 billion (T$217.2 billion).
Earnings per share are seen decreasing slightly from $1.31 to $1.29.
Last week, TSMC reported 16.5% revenue growth for the first quarter, ahead of Wall Street estimates of a 10% increase.
Revenue was T$592.64 billion (US$18.54 billion), up from US$16.72 billion in the year-ago quarter. This was at the high end of the company’s revenue guidance range of US$18 billion to US$18.8 billion.
Shares of TSMC traded hands at about $140 in the early afternoon on Tuesday. The stock has gained almost 60% in the last 12 months.