According to media reports, semiconductor company MediaTek expects its revenue to be between NT$125.7 billion and NT$131.9 billion in the third quarter of 2021, up 5% sequentially and 29% to 36% year-over-year.

In addition, the company expects its gross margin to be 46 percent in the third quarter of 2021, up or down by 1.5 percentage points. In comparison, for the second quarter of 2021, the company's gross margin was 46.2 percent, up 1.3 percentage points from the previous quarter and up 2.7 percentage points from the same period last year.

MediaTek's revenue for the second quarter was NT$125.653 billion, up 16.3 percent sequentially and 85.9 percent year-over-year, the earnings report showed.

The company said its revenue growth sequentially was driven by continued growth in 5G smartphones and various IoT devices, and year-over-year growth was driven by growth in 5G smartphone and WiFi 6 market share and increased sales of consumer electronics.

The earnings report also showed that the company reported a net profit of NT$27.587 billion for the second quarter, up 7% sequentially and 277.4% year-over-year. Earnings per share were NT$17.44, up from NT$16.21 in the previous quarter and NT$4.58 in the same quarter last year. The company said its net income and earnings per share increased sequentially due to higher revenue and gross margin.