HSINCHU, Taiwan (AP) _ Taiwan Semiconductor Manufacturing Co. (TSM) on Thursday reported first-quarter net income of $4.98 billion.

The Hsinchu, Taiwan-based company said it had profit of 96 cents per share.

The chip company posted revenue of $12.92 billion in the period.

TSMC shares have risen 11% since the beginning of the year. The stock has more than doubled in the last 12 months.

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

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