Taiwan chipmaker TSMC says quarterly profit $8.8 billion
Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, says its quarterly profit rose nearly 80% over a year earlier to $8.8 billion amid surging demand
By AP News
Published - Oct 13, 2022, 03:06 AM ET
Last Updated - Jun 24, 2023, 02:50 AM EDT
TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said Thursday that its quarterly profit rose 79.7% over a year earlier to $8.8 billion amid surging demand.
Quarterly revenue rose 47.9% over a year ago to $19.2 billion, the company reported.
TSMC, headquartered in Hsinchu, Taiwan, makes processor chips for brands including Apple Inc. and Qualcomm Inc.
Chipmakers are benefiting for demand for next-generation telecoms, high-performance computing and chips for use in products from cars to medical devices.
