Taiwan Semiconductor Manufacturing Company (TSMC) reported results for the first quarter ended March 31, 2018. TSMC announced consolidated revenue of NT$248.08 billion ($8.43 billion) in the first quarter 2018, a 6.1% increase on YoY basis, compared to NT$233.91 billion ($7.96 billion) in Q1 2017.
First quarter net income was NT$89.79 billion ($3.05 billion), an increase of 2.5% on a YoY basis compared to NT$ 87.62 billion ($2.98 billion) last year in the same quarter.
The Chief Financial Officer of TSMC said, “Our first quarter business was impacted by an unfavorable foreign exchange rate as NT dollar has appreciated by 5.9% against US dollar over first quarter of 2017, as well as mobile product seasonality, while the continuing strong demand for cryptocurrency mining moderated the mobile softness”.
