Asian Tech Press (OCT 27) -- Taiwanese semiconductor manufacturer MediaTek has announced its financial results for the third quarter of 2021, ending September 30, 2021. The earnings report showed that the company's consolidated revenue for the third quarter was NT$131.074 billion, up 4.3% sequentially and 34.7% year-over-year.

The company reported an operating profit of NT$29.287 billion for the third quarter, up 1.6 percent sequentially and 100.2 percent year-over-year. The net income was NT$28.361 billion, up 2.8 percent successively and 112.2 percent year-over-year, while earnings per share were NT$17.92, up from NT$17.44 in the previous quarter and NT$8.42 in the same period last year.

MediaTek said the year-over-year increase in net income and earnings per share in the third quarter was primarily due to higher revenue and gross margin.

For the third quarter, the company's gross profit was NT$61.216 billion, up 5.5 percent sequentially and 42.3 percent year-over-year. The gross margin was 46.7 percent, up 0.5 percentage points from the previous quarter and 2.5 percentage points compared to last year's same period.

MediaTek is a fabless semiconductor company that focuses on technologies such as wireless communications and digital multimedia. The company provides chip-integrated system solutions, including wireless communications, high-definition digital TV, optical storage, and other related products. The company's 5G modems are suitable for various devices such as smartphones, personal computers, Mi-Fi hotspots, and industrial IoT applications.

1 New Taiwan dollar = 0.036 USD