- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
Taiwan's TSMC reports record first-quarter revenue
Taiwanese tech giant TSMC posted record revenue for the first three months of the year Thursday as demand soared for chips used in everything from smartphones and cars to missiles.
Taiwan Semiconductor Manufacturing Company (TSMC) operates the world's largest silicon wafer factories and produces some of the most advanced microchips.
Its first-quarter revenue rose 36 percent on-year and 12 percent on-quarter, respectively, to a record Tw$491.1 billion (US$17.6 billion), according to a company statement.
It also posted a 45 percent year-on-year profit of Tw$202.7 billion in the January-March period.
That was up 22 percent from the 2021 fourth quarter.
CEO C.C. Wei said first-quarter revenue was "above the high-end of our guidance mainly due to better demand from smartphone and automotive-related applications than our forecast three months ago".
TSMC had forecast Q1 sales of between Tw$458.16 billion and Tw$474.72 billion at an investor conference in January.
Smartphone and high-performance computing (HPC) accounted for 40 percent and 41 percent of net revenue respectively, while automotive represented five percent in the first three months, company figures showed.
Revenue from HPC and automotive both rose 26 percent in this period from the fourth quarter in 2021.
A global chip shortage fulled by the coronavirus pandemic has not eased and wait time for semiconductor delivery reportedly grew again in March partly due to China's strict Covid lockdowns.
"Moving into second quarter 2022, we expect our business to be supported by HPC and automotive-related demand, partially offset by smartphone seasonality," Wei said.
TSMC forecast its revenue in the April-June period to be between US$17.6 billion and US$18.2 billion, said chief financial officer Wendell Huang.
"Despite the manufacturing cost challenges... we continue to believe a long-term growth margin of 53 percent and higher is achievable," he added.
H.Seidel--BTB