TSMC reported its quarterly earnings, including record sales and an 11% increase in revenue.
TSMC is the world’s leading semiconductor manufacturer. The company is the primary chip-maker for Apple, and also makes chips for Intel, Qualcomm, AMD, NVIDIA, Alphabet and others.
The company has now reported record revenue of $13.29 billion, a 28% increase. Net profit was up 11%, coming in at $4.81 billion.
“Our second quarter business was mainly driven by continued strength in HPC and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm and 7nm technologies, driven by all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications.”
TSMC is projecting third-quarter revenue to come in somewhere between $14.6 billion and $14.9 billion.
According to Bloomberg, the company also warned chip shortages could continue into next year, although automakers may see some relief as early as this quarter.