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TSMC Q3 profit surges 36%, beating market forecasts

Credit: REUTERS/ANN WANG

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) reported a 35.9% jump in quarterly net profit, boosted by robust demand for products requiring high-end chips and as Apple Inc readies a new iPhone.

TAIPEI, Oct 15 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2330.TW, TSM.N reported a 35.9% jump in quarterly net profit, boosted by robust demand for products requiring high-end chips and as Apple Inc AAPL.O readies a new iPhone.

July-September net profit for the world's largest contract chipmaker came in at T$137.3 billion ($4.8 billion), well ahead of the T$124.9 billion average of 19 analyst estimates compiled by Refinitiv.

Revenue for the quarter climbed 29.2% to $12.1 billion, above the company's earlier estimated range of $11.2 billion to $11.5 billion.

($1 = 28.7260 Taiwan dollars)

(Reporting by Yimou Lee; 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.

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