TSMC: revenue surges to $46.7 billion. Profits rise by almost 70 per cent

Tech giant TSMC posted revenue of 1,494.24 billion New Taiwan dollars in the third quarter, up 50.9 per cent, and net profit of 763 million New Taiwan dollars, a jump of 68.7 per cent. Compared with the second quarter, revenue rose by 17.6 per cent whilst net profit increased by 8 per cent. The gross margin on revenue rose to 66.4 per cent from around 59.5 per cent a year ago. In US dollars, revenue stood at 46.7 billion (+41.2 per cent year-on-year).

"In the third quarter, our business was driven by strong demand for our cutting-edge process technologies," said Wendell Huang, senior vice-president and chief financial officer at TSMC - “Looking ahead to the fourth quarter, we expect our business to be supported by continued strong demand for our cutting-edge process technologies, including the rapid ramp-up of production of our 2-nanometre technology.” In the first quarter, this new technology accounted for approximately 8 per cent of all TSMC’s silicon wafer sales.

For the fourth quarter, the group has forecast revenue of between 52.3 and 54.3 billion dollars, with a gross margin of between 65 per cent and 67 per cent and an operating margin of between 56.5 per cent and 58.5 per cent.