TSMC Q3 profit jumps 80%, beats market expectations

TAIPEI (Reuters) – Taiwanese chipmaker TSMC posted an 80% surge in third-quarter net profit on Thursday, Reuters calculations showed, buoyed by strong sales of its advanced chips despite a slowdown in the global chip industry because of economic headwinds.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a major Apple Inc supplier, saw net profit for the July-September period rise to T$280.9 billion ($8.81 billion) from T$156.3 billion a year earlier.

That compared with the T$265.64 billion average of 21 analyst estimates compiled by Refinitiv.

($1 = 31.8870 Taiwan dollars)

(Reporting by Ben Blanchard and Sarah Wu; Editing by Christian Schmollinger)