TSMC benefits from strong global chip demand, quarterly profit climbs 13.8%

TSMC benefits from strong global chip demand, quarterly profit climbs 13.8%
TSMC benefits from strong global chip demand, quarterly profit climbs 13.8%

October 14, 2021Le Journal Chrétien with Reuters

Supported by strong demand for electronic components for smartphones and other mobile devices due to the COVID-19 pandemic, TSMC on Thursday reported a 13.8% increase in third-quarter profit amid a global chip shortage.

The Taiwanese giant, the world’s largest semiconductor manufacturing subcontractor, reported a net profit for the July-September period of 156.3 billion Taiwan dollars (4.80 billion euros), higher to the 149 billion expected on average by analysts, according to data from Refinitiv.

Like other tech companies, TSMC has benefited from the development of telecommuting and distance schooling in the face of the coronavirus crisis, which is pushing consumers to equip themselves with tablets, computers and other equipment.

Its turnover over the period climbed 22.6% to reach 14.88 billion Taiwan dollars, in line with the range of estimates provided by the group.

TSMC, which counts Apple and Qualcomm among its customers, saw its share price rise 8.5% year-to-date to a market cap of $ 526.3 billion, more than double that of its American competitor Intel.

(Report Yimou Lee and Ben Blanchard; French version Juliette Portala)

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TSMC benefits strong global chip demand quarterly profit climbs

 
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