TSMC Q3 net profit up over 35% from previous quarter

The logo of Taiwan Semiconductor Manufacturing is displayed at the entrance of one of the company buildings in this undated file photo. (NOWnews)

TAIPEI (CNA) – Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world’s largest contract chipmaker, said Thursday that its net profit for the third quarter of this year rose more than 35 percent from a quarter earlier on the back of the peak season effect.

In an investor conference, TSMC said its net profit for the July-September period rose 35.7 percent from a quarter earlier to NT$89.93 billion (US$2.98 billion) after its consolidated sales grew 17.9 percent quarter-on-quarter to NT$252.11 billion, surpassing NT$249 billion, which was the higher end of an earlier forecast range given by the company in July.

The third-quarter net profit, however, fell 7.1 percent from a year earlier, TSMC said.

The chipmaker said rising global demand pushed up shipments of chips made on its advanced 10 nanometer process, which accounted for 10 percent in the third quarter, up from 1 percent seen in the second quarter.

TSMC started mass production of the 10nm process in the fourth quarter of last year. 

By Jackson Chang and Frances Huang