October 13, 2016 / 5:51 AM / a year ago

Taiwan's TSMC Q3 net profit climbs 28 pct to quarterly record

TAIPEI, Oct 13 (Reuters) - Taiwan Semiconductor Manufacturing Co’s (TSMC) third-quarter net profit jumped 28 percent, hitting a new quarterly record, as analysts said earnings were boosted by sales of chips and processors for Apple Inc’s new iPhone 7.

The world’s largest contract chipmaker said in a statement on Thursday that net profit in the July-September period climbed to T$96.8 billion ($3.08 billion) from T$75.3 billion a year earlier.

That was above with the T$95.2 billion mean forecast in a Thomson Reuters/Eikon survey of analysts, easily topping the previous record of T$80 billion, booked for the fourth quarter of 2014.

TSMC third-quarter revenue rose 23 percent to T$260.4 billion, another quarterly record and ahead of guidance the company offered in July. Last week TSMC reported revenue for the first nine months of this year was up 7.1 percent to T$685.71 billion, including a 39 percent jump for September alone.

The strong third-quarter performance means that with three months of the year to go, some analysts expect the firm will be able to beat its guidance for 5-10 percent growth in revenue for the whole of 2016. ($1 = 31.4450 Taiwan dollars)

Reporting by J.R. Wu; Editing by Kenneth Maxwell

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