TAIPEI : Taiwanese chipmaker TSMC posted a 2 per cent rise in first-quarter net profit on Thursday beating market expectations but still the smallest quarterly growth in almost four years as global economic woes dented demand for chips.
Taiwan Semiconductor Manufacturing Co Ltd , the world's largest contract chipmaker and a major Apple Inc supplier, saw January-March net profit rise to T$206.9 billion from T$202.7 billion a year earlier.TSMC, Asia's most valuable listed company, said first-quarter revenue dropped 4.8 per cent year-on-year, in line with the company's previous forecast.
Analysts said TSMC sales will be under pressure in the second quarter, which is traditionally a slow season for electronics manufacturers and as major clients cut back on orders. TSMC's share price fell 27.1 per cent in 2022, but is up around 14 per cent so far this year giving the chipmaker a market value of $433.9 billion. The stock rose 0.6 per cent on Thursday versus a 0.4 per cent fall in the benchmark index.