Taiwan Semiconductor bullish on Q3 figures

TSMC posted third-quarter revenue of £1.67bn

Taiwan Semiconductor Manufacturing Company (TSMC) has posted its third-quarter results, logging net income of NT$30.55bn (£566m) on revenues of NT$89.94bn (£1.67bn).

The company said that the figures represent the best performance it has achieved all year.

Profit for the three months to September rose 25 per cent on the previous quarter, but was about equal compared to the same period a year ago. The firm said that the numbers indicate the beginnings of an economic recovery in the chip market.

TSMC third-quarter revenue fell 3.3 per cent compared to this time last year, but represented an increase of 21 per cent on the second quarter.

The company said that margins are only going to get better in the fourth quarter, and that it expects revenue to be between NT$90bn and NT$92bn (£1.67bn and £1.71bn) for the next period.