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TSMC Reports 80 Percent Year-on-Year Surge in Quarterly Profit, Strongest Growth in 2 Years

TSMC on Thursday posted an 80 percent year-on-year surge in profits, as the world's largest contract chipmaker reported its strongest growth in two years. The firm has trimmed its capital spending by 10 percent for the year, saying that it was being more conservative in planning investments for 2023. The company's shares jumped more than 4 percent on Friday morning.

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