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TSMC saw profits rise 79.7 per cent over last year

by on13 October 2022

Downturn? What downturn?

TSMC said its quarterly profit rose 79.7 per cent over a year earlier to $8.8 billion amid surging demand.

Quarterly revenue rose 47.9 per cent over a year ago to $19.2 billion, the company reported.

According to TSMC, it is benefiting from demand for next-generation telecoms, high-performance computing and chips for use in products from cars to medical devices.

TSMC announced plans last year to invest $100 billion over the next three years in manufacturing and research and development.

Most semiconductors used in smartphones, medical equipment, computers and other products are made in Taiwan, South Korea and China which is one of the reasons the US is so worried that China might try to get the island back.  It wants TSMC to set up a shop somewhere which is a little "safer" although we doubt that TSMC is going to find workers as cheaply as Taiwan in the US. 

TSMC operates a semiconductor wafer fabrication facility in Camas, Washington, and design centers in San Jose, California, and Austin, Texas.

The company has announced plans for a second U.S. production site in Arizona.


Last modified on 13 October 2022
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