July 16, 2020 / 5:44 AM / a month ago

TSMC Q2 net profit jumps 81% on demand for faster chips

TAIPEI, July 16 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Thursday that second-quarter net profit surged 81% from a year earlier as strong demand for faster chips boosted sales despite coronavirus concerns.

The world’s largest contract chipmaker reported April-June net profit of T$120.8 billion ($4.1 billion), ahead of the T$111.83 billion average of 19 analyst estimates compiled by Refinitiv.

Revenue for the quarter climbed 34.1% to $10.38 billion, within the company’s earlier estimated range of $10.1 billion to $10.4 billion. ($1 = 29.4490 Taiwan dollars) (Reporting by Yimou Lee and Ben Blanchard; Editing by Edwina Gibbs)

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