Taiwan Semiconductor sees record 3Q net profit on strong chip demand
By Kosaku Narioka Taiwan Semiconductor Manufacturing Co.'s third-quarter net profit rose to a record, thanks to strong chip demand for electronics devices and data processing.
The world's largest contract chip maker said Thursday that net profit was 156.26 billion New Taiwan dollars , up from NT$137.31 billion a year earlier. That beat the estimate of NT$149.42 billion from a poll of analysts by S&P Global Market Intelligence. Its revenue rose 16% from a year earlier to NT$414.67 billion. Both its quarterly revenue and net profit were record highs.Some analysts said higher costs of raw materials and depreciation may weigh on the company's margins. TSMC earlier this year said it planned to invest US$100 billion over the next three years to increase production capacity.
Its revenue from smartphones rose 15% from the previous quarter and revenue from high-performance computing increased 9%. TSMC said revenue from customers in North America made up 65% of its third-quarter revenue, up from 64% in the second quarter, while revenue from China accounted for 11% of the total, unchanged from the previous quarter.
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