TSMC third-quarter profit rises 13.5%, beats market forecasts

Technology

The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during an investors’ conference in Taipei, Taiwan April 13, 2017. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC),, the world’s largest contract chipmaker, said on Thursday third-quarter net profit rose 13.5%, beating analysts’ expectations.

TSMC, whose clients include Apple Inc, said profit in the July to September period was T$101.07 billion ($3.30 billion). That compared with the T$96.3 billion average forecast drawn from 20 analysts, according to Refinitiv data.

Revenue rose 10.7% to $9.4 billion, compared with the company’s own estimate of $9.1 billion to $9.2 billion.

Reporting By Yimou Lee; editing by Jane Wardell and Christian Schmollinger

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