The brand of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Picture GLOBAL BUSINESS WEEK AHEAD

  • Q3 revenue T$156.3 bln vs T$149 bln market forecast
  • Q3 income up 22.6% on 12 months in U.S. greenback phrases

TAIPEI, Oct 14 (Reuters) – Taiwan chip large TSMC (2330.TW) posted a 13.8% soar in third quarter revenue on Thursday on the again of booming demand for semiconductors to energy smartphones and different devices throughout the COVID-19 pandemic amid a provide crunch.

July-September web revenue for TSMC, the world’s largest contract chipmaker and a key provider to Apple Inc (AAPL.O), got here in at T$156.3 billion ($5.56 billion), properly forward of the T$149 billion common of twenty-two analyst estimates compiled by Refinitiv.

Superior chips made by TSMC, formally generally known as Taiwan Semiconductor Manufacturing Co , are utilized in every part from high-end smartphones like Apple’s newly unveiled 5G iPhone 13, to synthetic intelligence, automobiles and all kinds of lower-end client items.

TSMC and Taiwan on the whole have additionally develop into central in efforts to resolve a pandemic-induced international chip scarcity that has pressured automakers to chop manufacturing, and damage producers of smartphones, laptops and even client home equipment.

TSMC’s income for the quarter climbed 22.6% to $14.88 billion, consistent with the corporate’s prior estimated vary of $14.6 billion to $14.9 billion.

Shares of TSMC have risen about 8.5% up to now this 12 months, giving it a market worth of $526.3 billion, greater than double that of competitor and shopper Intel Corp (INTC.O).

($1 = 28.0950 Taiwan {dollars})

Reporting by Yimou Lee and Ben Blanchard; Modifying by Christopher Cushing and Ana Nicolaci da Costa

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