Taiwan Semiconductor Manufacturing (TSMC), one of the world’s largest microchip manufacturers, increased its net profit by 13.8% in the third quarter, to 156,259 million Taiwanese dollars (4,806 million euros) in the midst of the supply crisis that has skyrocketed its sales. Between July and September, TSMC’s net sales increased 16.3% year-on-year, up to record of 414,671 million Taiwanese dollars (12,755 million euros).
“Our third quarter business was primarily supported by a strong demand on the four growth platforms, which are smartphones, high-performance computing (HPC), IoT, and automotive-related applications, “he said Wendell Huang, Vice President and CFO of TSMC.
Thus, in the first nine months of 2021, TSMC’s turnover reached 1.14 trillion Taiwanese dollars (35,240 million euros), 17.5% above of the income recorded between January and September of last year. Looking ahead to the fourth quarter of the year, the multinational expects to reach a sales figure of between 15,400 and 15,700 million dollars (13,313 and 13,572 million euros), driven especially by “a strong demand for our industry leading 5 nanometer technology“.
The company has raised its revenue growth forecast for 2021 to about 24%, compared to a previous forecast of more than 20%, citing a “industry megatrend” strong demand for chips.
The sector responds to a supply crisis due to the shortage of semiconductors due to the high demand to manufacture all types of devices. TSMC and Taiwan in general have also become central in efforts to resolve a pandemic-induced global chip shortage, which has forced automakers to cut production and hurts manufacturers of smartphones, laptops and consumer appliances.
TSMC’s shares, which are listed in New York, up 8.5% so far this year, giving the company a market value of $ 526.3 billion. This Wednesday, the price of their securities closed the session with a rise of 0.7% and is trading close to 110 dollars.