TSMC second-quarter profit spikes over 77%, topping estimates
The logo of Taiwan Semiconductor Manufacturing Corporation (TSMC) is seen at the opening ceremony of the TSMC global R&D Center in Hsinchu on July 28, 2023
Amber Wang | Afp | Getty Images
Taiwan Semiconductor Manufacturing Company On Thursday, the world’s largest contract chipmaker reported a 77.4% year-on-year increase in second-quarter profit as it continued to set record-breaking milestones after succession; This shattered the predictions.
Here are TSMC’s second quarter results, weighted by analysts’ estimates, which are more consistently accurate versus LSEG SmartEstimates:
- Revenue: 1.27 trillion NT$ ($39.45 billion) versus NT$1.264 trillion expected
- Net income: NT$706.56 billion versus NT$632.64 billion expected
The Taiwanese tech giant’s net income for the three months ending in June hit a record high for the fifth consecutive quarter, rising 23.4% from the previous quarter.
Revenue rose 36% to NT$1.27 trillion from NT$933.79 billion in the same period a year ago. The company said advanced technologies of 7 nanometers and below account for 77% of its total wafer revenue.
The company is a quarter of the way through its massive expansion, which included a spectacular June sales announced earlier this week.
TSMC shares, which have gained more than 58% so far this year, rose 1.23% on Thursday.
Asia’s most valuable company is seeing strong demand for the artificial intelligence chips it produces for global tech giants. Nvidia, Apple and Broadcom.
