- Q3 Profit T$156.3 bln vs T$149 bln Market Forecast
- Q3 Revenue in US dollar terms 22.6% year-on-year
- TSMC raises 2021 revenue growth target to around 24%
TAIPEI, Oct 14 (Businesshala) – Taiwan chip giant TSMC (2330.TW) reported a 13.8% jump in third-quarter profit on Thursday, driven by a demand for semiconductors to power smartphones and other gadgets during the COVID-19 pandemic. This was due to the increasing demand. supply shortage.
TSMC, the world’s largest contract chip maker and a major supplier of Apple Inc (AAPL.O), reported a net profit of T$156.3 billion ($5.56 billion) in July-September, an average of T$149 billion from 22 analyst estimates. much more than . Refinitiv.
Advanced chips made by TSMC, formally known as Taiwan Semiconductor Manufacturing Company, are used for everything from high-end smartphones like Apple’s newly unveiled 5G iPhone 13 to artificial intelligence, cars and a variety of lower-end smartphones. – Made in end consumer goods.
TSMC and Taiwan in general have become central in efforts to solve a pandemic-induced global chip shortage that has forced automakers to cut production and hurt makers of smartphones, laptops and consumer devices .
“Our third-quarter business was primarily supported by strong demand across all four growth platforms,” Chief Financial Officer Wendell Huang said at an analyst conference, referring to strong chip demand, including smartphones, cars and the “Internet of Things.” – The concept of connecting home appliances to the Internet.
“Looking forward into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5 nanometer technology.”
The company raised its revenue growth forecast for 2021 to about 24%, citing an “industry megatrend” of strong chip demand, up from 20% forecast.
TSMC’s revenue for the quarter increased 22.6% to $14.88 billion, in line with the company’s previously estimated range of $14.6 billion to $14.9 billion.
For the quarter ending December, TSMC forecast revenue of $15.4 billion to $15.7 billion, compared to $12.68 billion in the same period a year ago.
Shares of TSMC are up about 8.5% so far this year, giving it a market value of $526.3 billion, more than twice that of competitor and client Intel Corp (INTC.O).
They closed up 0.4% on Thursday, roughly in line with a 0.2% gain in the broader market (.TWI).
($1 = 28.0950 Taiwan Dollar)