Quarterly profit $8.8 billion amid surging demand: Taiwan chipmaker TSMC

Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said on Thursday that its quarterly profit rose 79.7 per cent over a year earlier to USD 8.8 billion amid surging demand.

Quarterly revenue rose 47.9 per cent over a year ago to USD 19.2 billion, the company reported.

TSMC, headquartered in Hsinchu, Taiwan, makes processor chips for brands including Apple Inc. and Qualcomm Inc.

Chipmakers are benefiting for demand for next-generation telecoms, high-performance computing and chips for use in products from cars to medical devices.