5 Earnings Reports Grabbing Everyone’s Attention

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 72

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) fell over three percent on Thursday, April 14, 2022, despite posting solid profit and sales for the first quarter.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) reported earnings of $1.40 per ADS, beating expectations of $1.33. Revenue for the quarter climbed 36 percent versus last year to $17.57 billion, helped by strong demand from big clients, including Apple and Qualcomm. Analysts were looking for revenue of $17.31 billion.

Looking forward, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) expects revenue in the range of $17.6 billion to $18.2 billion for the current quarter, significantly higher than $13.29 billion in the comparable period of 2021.

Discussing the results, CFO Wendell Huang said:

“Our first quarter business was supported by strong HPC and Automotive-related demand. “Moving into second quarter 2022, we expect our business to continue to be supported by HPC and Automotive-related demand, partially offset by smartphone seasonality.”