TAIPEI: Taiwan chip firm TSMC posted on Thursday a 16.4% rise in quarterly profit to a record, thanks to robust global demand for semiconductors used in smartphones, laptops and other gadgets during the COVID-19 pandemic that drove a chip supply shortage.
Net profit for October-December at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, rose to T$166.2 billion ($6.01 billion) from T$142.8 billion a year earlier.
That was higher than the T$161.6 billion average of 22 analyst estimates compiled by Refinitiv.
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