<p>The result for Taiwan Semiconductor (NYSE: TSM) for the first quarter of 2020 has TSM shares gaining momentum on Thursday. It comes after reporting adjusted earnings per share (EPS) of NT $ 4.51 on revenue of NT $ 310.6 billion. These both come well above Wall Street‘s estimates for the quarter.
Source: Sundry Photography / Shutterstock.com
Here’s what’s worth mentioning from the latest Taiwan Semiconductor earnings report.
Adjusted earnings per share increased by 90.3% from NT $ 2.37 during the first quarter of 2019. Revenue amounts to 42.02% higher than NT $ 218.7 billion reported during the same period the year before. Operating profit of NT $ 128.52 billion is an increase of 99.97% compared to the previous year from NT $ 64.27 billion. Taiwan Semiconductor’s earnings report also includes a net profit of NT $ 116.99 billion. That is a 90.57% jump compared to the net result of $ 61.39 billion from the same time last year.
Wendell Huang, VP and CFO of Taiwan Semiconductor, said this about TSM stock earnings:
“Our first quarter decreased less than the seasonal variation due to the increased HPC-related demand and the continued ramp for 5G smartphones. Ahead of the second quarter of 2020, we expect our revenues to be flat, as weaker demand for mobile products is expected to be balanced by continued 5G distribution and HPC-related product launches. ”
Taiwan Semiconductor’s earnings report includes its outlook for the second quarter of 2020. The company expects revenue for the period to range from $ 10.1 billion to $ 10.4 billion. Wall Street estimates revenue of $ 9.65 billion.
The TSM share increased by 5.72% as of Thursday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/taiwan-semiconductor-earnings-send-tsm-stock-soaring/.
© 2020 InvestorPlace Media, LLC