TSMC posts 11% profit rise, record revenue in Q2

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang

TAIPEI: Taiwan's TSMC posted an 11% rise in quarterly profit and record revenue on Thursday, boosted by a pandemic-led surge in global demand for chips that power devices such as smartphones and laptops.

Net profit for April-June at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, rose to T$134.4 billion ($4.81 billion) from T$120.8 billion a year earlier.