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Semi profit doubles

Semi profit doubles

Taiwan Semiconductor Manufacturing Co., the largest custom-chip maker, posted its highest profit in two years, prompting the company to increase capital spending to a record to meet demand for chips used in cellphones and computers.
Fourth-quarter net income rose to NT$32.7 billion (US$1 billion) from NT$12.4 billion a year earlier, the Hsinchu, Taiwan-based company said in a statement today. It was expected to post profit of NT$31.6 billion, according to the median of 14 analyst estimates compiled by Bloomberg. Taiwan Semiconductor will spend US$4.8 billion this year on equipment as the custom chipmaking market climbs 29 percent.


Updated : 2021-07-29 01:46 GMT+08:00