RTTNews | Jul 15, 2021 04:54AM EDT

04:53 Thursday, July 15, 2021 (RTTNews.com) - Taiwan Semiconductor Manufacturing Co. (TSM) reported Thursday that its second-quarter net income was NT$134.36 billion, up 11.2 percent from last year's NT$120.82 billion. Earnings per share were NT$5.18 or $0.93 per ADR unit, higher than NT$4.66 a year ago.

Consolidated revenue of NT$372.15 billion grew 19.8 percent from NT$310.70 billion a year ago.

Sequentially, net income fell 3.8 percent, but revenue grew 2.7 percent from the first quarter.

In US dollars, second-quarter revenue was $13.29 billion, which increased 28.0 percent year-over-year and increased 2.9 percent from the previous quarter.

Looking ahead, Wendell Huang, VP and Chief Financial Officer, said, "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."

For the third, revenue is expected to be between $14.6 billion and $14.9 billion; gross profit margin between 49.5 percent and 51.5 percent; and operating profit margin between 38.5 percent and 40.5 percent.

Read the original article on RTTNews ( https://www.rttnews.com/3209260/tsmc-q2-results-rise-sees-sequentially-higher-revenues-in-q3-on-strong-demand.aspx)

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