TSMC Posts Double Digit Net Profit Growth in Second-Quarter

Taiwan Semiconductor Manufacturing Co. (IW 1000/273), the world's top contract microchip maker, said Thursday net profits in the second quarter rose 16.3% from a year ago to $1.4 billion.

Net profit rose 24.9% from the previous quarter.

The company attributed the double-digit growth to strong demand for mobile computing related applications, with revenue for chips for communication equipment rising 27% from the previous quarter.

Revenue in the April-June period came in at Tw$128.1 billion, a rise of 15.9% year-on-year and an increase of 21.4% from the previous quarter.

North America remained the leading overseas market, representing 68% of sales, although that is down from 70% the previous year.

The company expected growth in the third quarter to come mainly from demand for high-end products.

Copyright Agence France-Presse, 2012