TSMC Q1 sales top its guidance

Focus Taiwan
Date: 04/11/2020
By: Chang Chien-chung and Frances Huang

Taipei, April 11 (CNA) The first-quarter sales of Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, exceeded its earlier guidance, mainly on record high revenues for March.

The strong first-quarter sales reflected solid global demand for 5G applications and high performance computing (HPC) devices, which has offset the impact of the COVID-19 pandemic and the typical slow season effects, according to market analysts.

In a statement released Friday, TSMC posted about NT$310.60 billion (US$10.32 billion) in consolidated sales for the January-March period, up 42 percent from a year earlier but down 2.09 percent from the previous quarter.

The company's first-quarter sales beat its estimate of NT$304.98 billion to NT$307.97 billion, which was made at an investor conference in mid-January.    [FULL  STORY]

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