TSMC reports huge surge in profit

News

29 June 2022 News

Taiwan Semiconductor Manufacturing Company, the world’s largest contract chip maker, announced a huge 76,4% in second quarter profit, which is its biggest jump in earnings in the last eight financial quarters. This was largely due to the major demand for its chips after a two-year long global shortage.

Net profit for April to June rose to a record $7,9 billion, despite record global inflation and analysts warning of a looming recession. Demand for Apple’s iPhone 13 as well as strong sales of high-performance computing chips used in 5G networks and artificial intelligence applications were a major contributor.

TSMC has accordingly raised its 2022 forecast while warning that it will reduce spending on expansion by as much as 9%, reflecting uncertainty about the demand for electronics in the face of a global recession. However, CEO C.C. Wei said that it was too early to go into specifics about spending plans or the outlook for semiconductor demand in 2023, but that TSMC should still enjoy “a growth year.”

Share this article:

Strengthening industry through strategic partnerships at KITE 2025
Specialised Exhibitions News
The KwaZulu-Natal Industrial Technology Exhibition is not just an exhibition, it is a powerhouse of industry collaboration where visitors and exhibitors gain access to authoritative insights, technical expertise, and high-impact networking opportunities.

Read more...

Solar Youth Project calls on industry to step up
News
With the second cohort completed training and the first cohort returning for their final module, host companies are urgently needed to turn the training into a long-term opportunity.

Read more...

Conlog powers SA’s future with national smart meter rollout
News
Conlog recently secured the RT29-2024 contract from National Treasury, which is seen to be a major milestone towards modernising SA’s utility infrastructure.

Read more...

Zuchongzhi-3 sets new benchmark
News
This latest superconducting quantum computing prototype features 105 qubits and 182 couplers to operate at a speed 10¹5 times faster than the most powerful supercomputer currently available.

Read more...

Automatic device attestation certificate for Panasonic
News
DigiCert recently announced it has partnered with Panasonic Industry Europe to integrate DigiCert Device Trust Manager with Panasonic’s PAN-MaX intelligent manufacturing service for seamless Matter certification of interoperable smart home devices.

Read more...

From the editor's desk: Are we really being ripped off?
Technews Publishing News
To the surprise of many customers, installing solar panels does not always eliminate their utility bill – and in some cases, the power utility may impose additional charges on solar-powered homes.

Read more...

Winner of the Advanced Electronics Challenge
Avnet Silica News
Avnet Silica has named Hydronauten winner of the Advanced Electronics Challenge for breakthrough AI-driven vibration damping technology.

Read more...

Categories

News

TSMC reports huge surge in profit

Further reading:

Publications by Technews