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Shares of Taiwan Semiconductor (NYSE:TSM) rallied more than 4% in pre-market trading after the company reported better-than-expected Q1 results.
Quarterly Results
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Earnings per share increased 97.37% over the past year to $0.75, which beat the estimate of $0.69.
Revenue of $10,306,000,000 rose by 45.15% from the same period last year, which beat the estimate of $10,110,000,000.
Guidance
Taiwan Semiconductor hasn't issued any earnings guidance for the time being.
Q2 revenue expected to be between $10,100,000,000 and $10,400,000,000.
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Recent Stock Performance
Company's 52-week high was at $60.64
52-week low: $37.18
Price action over last quarter: down 11.63%
Company Overview
Taiwan Semiconductor Manufacturing is the world's largest dedicated chip foundry, with over 50% market share in 2018 (according to IC Insights). TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.