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Taiwan Semiconductor Manufacturing Company (TSMC)'s headquarters at Hsinchu Science Park on September 16, 2022 in Hsinchu, Taiwan, China. /CFP
Taiwan Semiconductor Manufacturing Company (TSMC) posted better-than-expected third-quarter profits on Friday as rivals warn that the global economic downturn is hitting demand for consumer electronics.
The semiconductor giant operates the world's largest silicon wafer factories and produces some of the most advanced microchips used in everything from smartphones and cars to missiles.
Revenue for September was approximately $6.6 billion, down 4.5 percent from the month before but an increase of 36 percent from September last year.
Third-quarter revenue at the world's largest contract chipmaker also rose 48 percent year on year to about $19.4 billion, according to Bloomberg News calculations.
TSMC's results came the same day its biggest rival Samsung Electronics warned it expects operating profits in the third quarter to fall 32 percent.
Samsung, the world's biggest memory chip and smartphone maker, flagged a worse-than-expected 32 percent drop in quarterly operating earnings on Friday, as an economic downturn slashed demand for electronic devices and the memory chips that go in them, the company said in a preliminary earnings release.
Meanwhile, preliminary third-quarter sales at U.S. chipmaker Advanced Micro Devices (AMD) missed projections by more than $1 billion.
TSMC's results did not contain a forecast, but the company is more shielded from a downturn partly because it produces some of the most advanced and smallest chips, which are still highly sought after and in short supply.
The company controls more than half of global foundry output, with clients including Apple and Qualcomm.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466