TSMC Profit Beats Estimates on Tablet, Smartphone Demand
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Taiwan Semiconductor Manufacturing Co., the world’s largest contract manufacturer of chips, posted first-quarter profit that beat analysts’ estimates after demand for smartphones and tablets drove sales of pricier chips.
Net income climbed 8 percent from a year earlier to NT$36.3 billion ($1.3 billion), the Hsinchu, Taiwan-based company said in a statement today. The average of 10 analysts’ estimates in the past 28 days compiled by Bloomberg was for profit of NT$35.3 billion.