Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) shares surged 4.71% in Thursday pre-market hours to hover around £119.92 ($158.81) per American Depositary Share as Q1 net profit and diluted earnings per share (EPS) increased by 60.3% and 60.4%, respectively. Trading volume during pre-market hours soared to 23.64 million shares versus a daily average of 18.50 million shares.
According to an earnings release dated 17th April, net profit was £8.39 billion ($11.12 billion) while diluted EPS was £1.60 ($2.12) per ADR unit. Total revenue for the quarter increased by over 35% year-over-year (YoY) but fell sequentially to £19.28 billion ($25.53 billion). For Q2, the semiconductor giant expects revenue of up to £22.05 billion ($29.2 billion).
