TSMC's net profit in the third quarter was 280.87 billion New Taiwan dollars, a year-on-year increase of 79.7 percent.

CTOnews.com, October 13 (Xinhua)-- chipmaker TSMC today reported an 80% jump in net profit for the third quarter, despite strong sales of advanced chips used in data centers and electric vehicles, despite a slowdown in the global chip industry caused by economic headwinds.

Consolidated revenue for the third quarter ended September 30, 2022 was NT $613.14 billion (about 138.57 billion yuan), up 47.9% year-on-year and 14.8% month-on-month, while net profit was NT $280.87 billion (about 63.477 billion yuan), up 79.7% year-on-year and 18.5% month-on-month, and diluted earnings per share was NT $10.83, up 79.8% from a year earlier, according to the results.

CTOnews.com learned that TSMC had a gross margin of 60.4 per cent, an operating margin of 50.6 per cent and a net margin of 45.8 per cent in the third quarter. In the third quarter, shipments of 5 nanometers accounted for 28 percent of total wafer revenue, and shipments of 7 nanometers accounted for 26 percent. 7 nm and more advanced processes account for 54% of total wafer revenue.

TSMC's business has been driven by a global chip shortage, which has eased, but analysts say the company's dominance in making some of the world's most advanced chips keeps its orders full.

TSMC's share price has fallen nearly 36% so far this year and now has a market capitalization of $323.7 billion. Its shares fell 0.6 per cent today, while Taiwan's weighted index (.TWII) fell 2.1 per cent.