HSINCHU, Taiwan (AP) — HSINCHU, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co. (TSM) on Thursday reported second-quarter profit of $22.36 billion.

The Hsinchu, Taiwan-based company said it had profit of $4.31 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.87 per share.

The chip company posted revenue of $40.2 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $39.63 billion.

_____

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