Analysts expect firstquarter profit of 6.7 bln
Q1 revenue jumps, beats market expectations
Stock price has surged on chip demand for AI applications
TSMC announces third fab in Arizona, gets US subsidies
Earnings call at 0600 GMT on Thursday

TAIPEI, April 16 Reuters Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 5 rise in firstquarter profit on Thursday thanks to strong demand.

The world39;s largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has helped it weather the tapering off of pandemicled electronics demand and pushed TSMC39;s stock to a record high.

TSMC is set to report a net profit of T217.2 billion 6.71 billion for the quarter ended March 31, according to an LSEG SmartEstimate drawn from 22 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.

That compares to the firstquarter net profit of T206.9 billion last year.

TSMC last week reported a 16.5 rise in firstquarter revenue, beating market expectations and at the high end of the company39;s own guidance.

Eric Yao, a vice president at Taiwan39;s Eastspring Investments, which manages about T90 billion of client assets in Taiwanese stocks, said the 6.6 billion in U.S. subsidies for TSMC39;s new Arizona plants augured well for its prospects of maintaining its lead in advanced process…