TSMC net income up 80%

The world's largest contract manufacturerchips, the Taiwanese company Taiwan Semiconductor Manufacturing Co (TSMC), reported on the results of work in the third quarter. The company's net profit grew by 80%, which exceeded the consolidated forecasts of analysts. TSMC's third-quarter net income was NT$280 billion ($8.8 billion). TSMC's quarterly revenue growth was 36%, generating $20.2 billion in revenue. TSMC's sales and earnings growth was driven by strong sales of data center solutions and electric vehicle electronics. It is noted that the company achieved such results against the backdrop of a reduction in the global chip manufacturing industry associated with global economic problems in the field of logistics and uncertainty caused by global risks due to the conflict in Ukraine.