Taiwan Semiconductor Manufacturing Co. reported record net profit for the third quarter, the sixth consecutive quarter of record earnings, with a 68.7% surge year-over-year. Revenue reached 1.49 trillion new Taiwan dollars, slightly above the expected 1.47 trillion. Net income came in at 763.1 billion new Taiwan dollars, beating estimates of 746.34 billion. In September, the company posted 54.6% year-over-year revenue growth to 511.86 billion new Taiwan dollars. TSMC outlined plans to expand its U.S. manufacturing footprint with a planned investment of 265 billion dollars in Arizona, and is reportedly evaluating a potential investment in Texas.
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