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TSMC scores another record quarter

TSMC scores another record quarter

TSMC (Taiwan Semiconductor Manufacturing Co.) announces sixth straight quarter of record sales

Revenue jumped 21% to $15.8 billion for the quarter ended in December, topping the company’s forecast of $15.7 billion. The figures come when the demand for semiconductors increases regardless of the chip shortage that has hit multiple industries.

TSMC, a chip manufacturer for Apple and Qualcomm, announced last year that it was planning to increase prices due to strong demand and lack of supply as much as 20%, marking its most significant single increase. The price surge and the time frames for the hikes differed for each client. For some companies, the growth took effect immediately.

TSMC is expected to post a 23% year-on-year revenue growth driven by higher average selling prices of products.

Following the news, TSMC Taiwan-listed shares went up 1.42%.

Sources: asia.nikkei.com, cnbc.com

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