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TSMC hits yet another record as profit surges 39%, beating estimates on AI chip demand surge
Taiwan Semiconductor Manufacturing Company reported a 39.1% increase in third-quarter profit, hitting a fresh record despite missing estimates.
TSMC Q3 profit jumps 39.1% to record, beats expectations
TSMC, the world’s largest contract chipmaker, posted a 39.1% jump in third-quarter net profit on Thursday, beating market forecasts and hitting a record as it benefited from surging demand for semiconductors used in artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, whose customers include Nvidia and Apple, saw July-September net profit rise to T$452.3 billion ($14.76 billion). The profit handily beat a T$417.7 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.