A diagram of a semiconductor wafer at the TSMC Innovation Museum in Hsinchu, Taiwan, on January 11, 2022.
Zheng Yihua | Bloomberg | Getty Images
TSMC reported a 54% increase in net profit on Thursday, as global chip manufacturers continue to benefit from demand driven by artificial intelligence applications.
The company’s net profit for the July-September quarter was NT$352.3 billion (US$10.1 billion), exceeding the LSEG estimate of NT$300.2 billion cited by Reuters.
TSMC is the world’s largest advanced chip manufacturer, serving customers including apple and NVIDIA.
Net revenue in the third quarter was US$23.5 billion, an annual increase of 36%. TSMC’s gross profit margin rose to 57.8% from July to September, compared with 54.3% in the same period last year.
Capital spending increased slightly to $6.4 billion in the third quarter, compared with $6.36 billion in the first three months.
TSMC’s profits better than Netherlands same week ASMLThe company that supplies machines to the Taiwanese company issued a lower-than-expected net sales forecast, sending shares tumbling.
This breaking news story is being updated.
About The Author
