- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
TSMC Second-Quarter Profit Jumps 81% To Record On Demand For Faster Chips
TSMC shares have risen about 10% this year, giving it a market value of $320 billion, overtaking U.S. rival Intel Corp's $249 billion.
Photo Credit :
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Thursday that quarterly net profit surged 81% to a record level on robust orders for advanced chips.
The world's largest contract chipmaker reported April-June net profit of T$120.8 billion ($4.1 billion), well ahead of the T$111.83 billion average of 19 analyst estimates compiled by Refinitiv.
Revenue for the quarter climbed 34.1% to $10.38 billion, within the company's earlier estimated range of $10.1 billion to $10.4 billion.
Although TSMC is losing Huawei Technologies Co Ltd as a customer after the U.S slapped the Chinese company with sales restrictions, it has managed to fill up its order book with requests from other companies, a government minister said last month.
TSMC shares have risen about 10% this year, giving it a market value of $320 billion, overtaking U.S. rival Intel Corp's $249 billion. TSMC's shares closed down 1.5% on Thursday, underperforming a 0.4% decline on the broader market.
(Reuters)