TSMC posts record profit, sales in 2022 on strong chip demand

Taiwan Semiconductor Manufacturing Co. said Thursday its net profit and sales hit record highs in 2022, rising 70.4 percent and 42.6 percent, respectively, from a year earlier on solid demand for smartphone chips.

The world’s largest contract chipmaker logged a net profit of NT$1.02 trillion ($33.5 billion) and sales of NT$2.26 trillion in the business year through December.

As for the last quarter of 2022, TSMC said its net profit rose 78.0 percent from the same period a year earlier to NT$295.9 billion, while sales increased 42.8 percent to NT$625.5 billion.