TSM

TSMC Q2 net profit jumps 81% on demand for faster chips

Credit: REUTERS/TYRONE SIU

TAIPEI, July 16 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2330.TW, TSM.N said on Thursday that second-quarter net profit surged 81% from a year earlier as strong demand for faster chips boosted sales despite coronavirus concerns.

The world's largest contract chipmaker reported April-June net profit of T$120.8 billion ($4.1 billion), 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.

($1 = 29.4490 Taiwan dollars)

(Reporting by Yimou Lee and Ben Blanchard; Editing by Edwina Gibbs)

((yimou.lee@thomsonreuters.com; +886-2-8729-5122;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.