TSMC's Q1 profit up 19%, beats market estimates

Taiwan's TSMC posted a 19.4% rise in quarterly net profit on Thursday, Reuters calculations showed, boosted by demand for high-end chips from people splurging on devices during COVID-19 and from Apple Inc's new iPhone.

Net profit for January-March at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, was T$139.7 billion ($4.91 billion).

That was more than the T$134.01 billion average of 22 analyst estimates compiled by Refinitiv. ($1 = 28.4540 Taiwan dollars)