TSMC Q3 Profit Surges 5.2%

Taiwan Semiconductor Manufacturing Co

posted a rise in its third-quarter net profit. TSMC's quarterly net profit surged 5.2% to $51.95 billion New Taiwan dollars ($1.77 billion), versus a year-ago profit of NT$49.38 billion. However, analysts were expecting profit of NT$51.71 billion. Its revenue gained 15% to NT$162.58 billion from NT$141.38 billion. TSMC's gross margin came in at 48.5% in the quarter. TSMC's shares closed at $18.28 yesterday.