Taiwan Semiconductor Manufacturing Corporation (TPE: 2330) ended its third quarter with footing that’s sure to please investors, as the chip manufacturing company posted earnings Thursday afternoon which had double-digit gains year-over-year and quarter-over-quarter.
During the third quarter of 2014, TSMC brought in $2.51 billion in net profit on $6.58 billion in revenue. Quarter-over-quarter this represents a 14.2% in revenue and a 27.9% increase in profit. Compared to the same time last year, revenue rose by 29% while profit increased by 47%.
TSMC attributes the double-digit gains to both the increase in demand for its services from filling orders for the iPhone 6, as well as other smartphone companies preparing to increase inventory for the holiday season buying rush.
TSMC counts the who’s who of semiconductor companies amongst its clients. The earnings of TSMC are a good barometer to determine the health of the industry as a whole.
For the fourth quarter many analysts are predicting TSMC’s revenue and profit to increase slightly, by a maximum of 2%.