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
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.