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HSINCHU, Taiwan (AP) — HSINCHU, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co. (TSM) on Thursday reported first-quarter profit of $11 billion.

The Hsinchu, Taiwan-based company said it had net income of $2.12 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.

The chip company posted revenue of $25.53 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $25.3 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSM at https://www.zacks.com/ap/TSM