Taiwan Semiconductor Mfg. Co. Ltd. : TSMC 3Q Net Profit Jumps 62% on Advanced Chip Tech; Beats Forecasts
10/25/2012| 02:04am US/Eastern
TAIPEI--Taiwan Semiconductor Manufacturing Co. (TSM) said Thursday that third-quarter net profit rose 62% from a year earlier--beating analysts' estimates--on the back of strong demand for its advanced chip-production technology.
TSMC, the world's largest contract chip manufacturer by revenue, said net profit for the three months ended Sept. 30 reached 49.30 billion New Taiwan dollars (US$1.69 billion), up from NT$30.40 billion.
Net profit was better than the average NT$46.02 billion forecast of eight analysts polled earlier by the Wall Street Journal.
The company said consolidated revenue rose 33% to NT$141.38 billion from NT$106.48 billion.
Revenue from selling chips made with the latest 28-nanometer technology were more than double from the second quarter, the company said. Chips made using this technology are physically smaller and use less power, and are in high demand from smartphone makers.
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