Taiwan Semiconductor Manufacturing Company (TSMC) (TSM, Financial) saw a significant rise of over 2% in its stock during the US market trading. The boost comes after the company released impressive first-quarter earnings, reporting a revenue of 839.25 billion New Taiwan dollars. This marks a year-over-year growth of 41.6%, although it shows a slight quarter-over-quarter decline of 3.4%.
Additionally, TSMC reported a net income of 361.56 billion New Taiwan dollars, representing a year-over-year increase of 60.3% but a slight drop of 3.5% from the previous quarter. These figures surpassed market expectations, which anticipated a net income of 354.64 billion New Taiwan dollars.
