TSMC said its net profit for the first three months of 2025 rose 60.3% from a year ago to NT$361.56 billion (US$11.1 billion).

That beat expectations for NT$346.76 billion, according to a Bloomberg News survey of analysts.

Net revenue for the quarter soared nearly 42% to NT$839.25 billion on-year, also beating forecasts, figures released by the company last week showed.

The Q1 ended before US President Donald Trump’s so-called “Liberation Day” tariffs on April 2.

TSMC, which counts Nvidia and Apple among its clients, has been in the crosshairs of Trump, who has accused Taiwan of stealing the US chip industry.

There had been hopes in Taiwan that TSMC’s plan to invest an additional US$100 billion in the US would shield the island from new tariffs.

Trump still imposed a 32% duty on Taiwanese imports as part of his sweeping tariffs on global trade partners – which he later paused for 90 days – but it excluded semiconductors.

Now, Washington is pushing forward with plans to slap import levies on semiconductors and chip-making equipment, with the launch of “national security” probes into the industry.