A photo of semiconductor wafers at the Taiwan Semiconductor Manufacturing Museum in Hsinchu, Taiwan on Jan. 11, 2022.
Ai-Hwa Cheng | Bloomberg | Good pictures
The Taiwanese semiconductor maker reported a 54% rise in net profit on Thursday as global chipmakers continue to benefit from increased demand fueled by AI applications.
The company reported net income of 352.3 billion Taiwan dollars ($10.1 billion) in the July-September quarter, beating the LSEG estimate of $300.2 billion Taiwan dollars cited by Reuters.
DSMC is the world’s largest manufacturer of advanced chips, serving customers such as Apple And Nvidia.
Net revenue in the third quarter came in at $23.5 billion, up 36% year-over-year, and TSMC’s gross margin rose to 57.8% in the July-September quarter, up from 54.3% in the same period last year.
Capital spending rose to $6.4 billion in the third quarter, from $6.36 billion in the prior three months.
TSMC’s earnings come in the same week as the Netherlands ASMLThe company, which supplies machines to the Taiwanese company, posted lower-than-expected net sales, sending shares down.
This breaking news story is being updated.
