Taiwan Semiconductor Manufacturing Co. (TSMC) has reported substantially higher profits in the third quarter.
The company's third quarter report on Thursday showed that its net profits jumped 28.4 percent year on year to 96.71 billion new Taiwan dollars (around 20 billion yuan).
This represents an increase of 33.4 percent from the second quarter.
Sales revenue amounted to 260.41 billion new Taiwan dollars, an increase of 22.5 percent from the same period a year ago.
Earnings per share was 3.73 new Taiwan dollars.
The company foresees that sales revenue will be higher in the fourth quarter, driven by strong demand in the smart phone market.
The sales revenue is expected to stand between 255 billion and 258 billion new Taiwan dollars in the October-to-December period.
