Taiwanese semiconductor giant TSMC took more than NTD$200 billion (US$7 billion) in revenue in August, a new monthly record. Revenue for last month grew by almost 17% from July.
The chip giant says that strong demand for TSMC products using the 5- and 7-nanometer processes as well as Taiwan dollar’s relatively weak exchange rate were key drivers behind August’s record-breaking turnover.
The figures suggest TSMC is recovering from the impact of the COVID-19 pandemic. August revenue was close to 60% more than in the same month last year. And TSMC’s combined takings from the first eight months of this year was also more than 40% higher compared to the same period in 2021.
Semiconductor market research company IC Insights says that TSMC will dethrone Samsung in the third quarter of the year as the industry’s profit leader. That’s because the computer memory market is in freefall, which will cut the Korean giant’s third quarter earnings by almost 20% compared to the second.