Taiwan Semiconductor Manufacturing Company often referred to as TSMC, has today posted record-breaking earnings result for the second quarter of 2021. Amidst the high demand for chips at the global level, TSMC reported a revenue jump of 28% Year-over-Year (YoY), with profits following at 11%.
The ongoing global pandemic has been the main factor for higher chip demand as more people work from home and seek entertainment from consoles and PC gaming. The demand has sparked a massive surge for semiconductor processors powering everything from smartphones, cars, laptops, to supercomputers. And TSMC is the main manufacturer of all of the aforementioned chips.
In the second quarter of the year 2021, TSMC’s revenue has climbed by as much as 28%, resulting in a record 13.29 billion US Dollars. As far as profits are concerned, TSMC has managed to keep profits soaring with an 11% increase, resulting in 4.81 billion US Dollars.
“Our second quarter business was mainly driven by continued strength in HPC and Automotive-related demand,” said TSMC’s Chief Financial Officer Wendell Huang. “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.”
Analysts and investors have confidence in TSMC, as the company is currently the best performer in the semiconductor market, providing the best and most advanced technology. Its 5nm node is already in production, while the upcoming 3nm node is supposed to enter trial production later this year. Combined, it creates a unique opportunity for TSMC to satisfy customer needs for the best semiconductor technology.
Previously, TSMC has announced plans to invest around 100 billion US Dollars over the next three years into the expansion of its semiconductor manufacturing facilities. Driven by high demand for artificial intelligence chips and 5G technologies, Taiwanese firm sees it as a smart investment that is backed up by strong earnings.