Taiwan Semiconductor Manufacturing Co. has offered up its first quarter results for the year, revealing yet another middling quarter. While turnover was NT$105.51 billion ($3.6 billion) and net profit was NT$33.47 billion ($1.1 billion), that’s still 7.7 percent down on the NT$36.28 it made in the same quarter last year. On the upside, the chip foundry, which produces silicon for plenty of the world’s biggest electronics companies, managed to claw back some of those profit dips from Q4 of last year, suggesting milder climes may lie ahead.
The company is also encouraged by strong demand for its new 28-nanometer chips, which should offset the $8.5 billion spent on developing them, alongside a forthcoming 20-nanometer facility. 28-nanometer hardware still only equates to 5 percent of overall revenue, which should grow as companies use up their older inventory. If you’ve got a currency convertor to hand, head on past the break for the detailed breakdown.