TAIPEI (Taiwan News) – Exceeding expectations of an improvement, the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), on Tuesday (September 10) announced record monthly revenue for August of NT$106 billion (US$3.4 billion).

Forecasters had predicted a figure of at least NT$100 billion for the high season month, but TSMC did even better, achieving a month-of-month surge of 25.2 percent and a year-on-year rise of 16.5 percent, the Central News Agency reported.

For July and August, the combined revenue total reached NT$190.8 billion, while the company was expected to continue perform well in September.

Corporations like AMD, Apple and MediaTek were expected to continue and drive demand for TSMC products for the next few months, according to analysts. The rapid development of 5G technology might make the Taiwanese chipmakers fourth quarter of 2019 even better than the third, the report said.