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TSMC Turns in Record Quarter, Warns of Ongoing Shortages
TSMC reported its quarterly earnings, including record sales and an 11% increase in revenue.
TSMC is the world’s leading semiconductor manufacturer. The company is the primary chip-maker for Apple, and also makes chips for Intel, Qualcomm, AMD, NVIDIA, Alphabet and others.
The company has now reported record revenue of $13.29 billion, a 28% increase. Net profit was up 11%, coming in at $4.81 billion.
“Our second quarter business was mainly driven by continued strength in HPC and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm and 7nm technologies, driven by all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications.”
TSMC is projecting third-quarter revenue to come in somewhere between $14.6 billion and $14.9 billion.
According to Bloomberg, the company also warned chip shortages could continue into next year, although automakers may see some relief as early as this quarter.
TSMC Turns in Record Quarter, Warns of Ongoing Shortages
Matt Milano
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