Taiwan chipmaker TSMC says quarterly profit $6 billion

TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips, says its quarterly profit rose 16.4% over a year earlier to $6 billion amid surging demand for chips for smartphones and other electronics. TSMC announced revenue in the final three months of 2021 rose 21.2% to $15.8 billion. The company makes processor chips for major brands including Apple Inc. and Qualcomm Inc. Chipmakers have benefited from demand for next-generation telecoms, high-performance computing and chips for use in products from cars to medical devices.