TSMC said its third-quarter net profit rose 80% to a new record, and that it had been granted a one-year exemption from new U.S. restrictions on China’s chip sector
TSMC said net profit for the quarter ended Sept. 30 rose to 280.87 billion new Taiwan dollars, equivalent to $8.83 billion, from NT$156.26 billion a year earlier. That beat the estimate of NT$267.31 billion taken from a poll of analysts by S&P Global Market Intelligence.The company’s operating profit margin improved by 9.4 percentage points from a year earlier to 50.6%.
Revenue from smartphones rose 25% from the previous quarter, while revenue from high-performance computing increased 4%. TSMC said revenue from customers in North America made up 72% of the third-quarter total, up from 64% in the second quarter, while revenue from China accounted for 8%, down from 13% in the previous quarter.