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- TSMC recorded over 23% profit jump.
- Both the company’s quarterly revenue and profit both topped estimates.
A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023Amber Wang | Afp | Getty Images
Taiwan Semiconductor Manufacturing Co on Thursday reported a 23.4% jump in second-quarter profit from the previous quarter, shattering estimates as the world’s largest contract-chipmaker continues to set consecutive record-breaking milestones.
Here are TSMC’s second-quarter results against LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
- Revenue: 1.27 trillion new Taiwan dollars ($39.45 billion ) vs. NT$1.264 trillion expected
- Net income: NT$706.56 billion vs. NT$632.64 billion expected
The Taiwanese tech giant’s net income for the three months ended in June was a record high for a fifth consecutive quarter, and surged over 77% year on year.
Revenue surged to NT$1.27 trillion, a 36% jump from NT$933.79 billion in the same period year ago. Advanced technologies — 7-nanometer and under — accounted for 77% of total wafer revenue, the company said.
The company capped off a quarter of massive growth that included stellar sales in June released earlier this week.
TSMC shares, which have gained over 58% so far this year, rose 1.23% Thursday.
Asia’s most valuable company has been riding robust demand for AI chips it manufactures for global tech giants, including Nvidia, Apple and Broadcom.
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