Apple supplier TSMC's second-quarter profit jumps 81% to record on demand for faster 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.

Signage for Taiwan Semiconductor Manufacturing Co. (TSMC) is displayed at the company's headquarters in Hsinchu, Taiwan, on Wednesday, June 5, 2019.

Ashley Pon | Bloomberg via Getty Images

Taiwan Semiconductor Manufacturing (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 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.