TSMC Raises Sales Outlook Despite Fears Around Global Demand
- Company sees second-quarter revenue of at least $17.6 billion
- First-quarter profit also tops predictions on solid chip sales
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Taiwan Semiconductor Manufacturing Co. raised its sales outlook for the year after quarterly earnings jumped 45%, helped by solid demand for chips used in everything from smartphones to cars.
Annual revenue in dollar terms will top the previous outlook for as much as 20%-plus growth, the world’s biggest contract manufacturer of chips said Thursday. Sales will rise to $17.6 billion to $18.2 billion in the quarter through June, it said, implying growth of more than 30%. Analysts were estimating $16.9 billion on average, according to data compiled by Bloomberg.