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TSMC fourth quarter profit rises 23% to record high on work-from-home, iPhone boost – Reuters

FILE PHOTO: A emblem of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC) posted on Thursday a file excessive quarterly revenue, boosted by demand for units requiring high-end chips because the pandemic forces individuals to earn a living from home and for Apple’s new iPhone.

October-December web revenue for TSMC, the world’s largest contract chipmaker, reached T$142.eight billion ($5.10 billion), 23% larger than a 12 months in the past.

That was higher than the T$135.39 billion common of 22 analyst estimates compiled by Refinitiv.

Income for the Apple Inc provider rose 22% to $12.68 billion, versus its earlier estimated vary of $12.four billion to $12.7 billion.

Analysts mentioned gross sales of superior chips have been boosted by robust demand for high-end smartphones together with the iPhone 12 in addition to for units geared up with new know-how corresponding to fifth-generation (5G) networking and synthetic intelligence.

The Taiwanese producer, whose shoppers additionally embrace Qualcomm Inc, has benefited from the COVID-19 pandemic as firms search so as to add extra bandwidth for distant employees and folks working from dwelling put money into premium units.

TSMC’s share value has jumped greater than 11% in 2021, giving the inventory a market worth of $560.7 billion.

($1 = 28.0050 Taiwan {dollars})

Reporting by Yimou Lee and Ben Blanchard; Modifying by Christopher Cushing and Himani Sarkar

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