The Taiwan Semiconductor Manufacturing Company (TSMC) logo is seen at the opening ceremony of the TSMC Global RnD Center in Hsinchu on July 28, 2023.
Amber Wang | AFP | Getty Images
Taiwan Semiconductor Manufacturing Co., Ltd. on Thursday reported a 77.4% year-over-year increase in second-quarter profit, smashing expectations as the world’s largest contract chipmaker continues to set consecutive record-breaking milestones.
Below are TSMC’s second quarter results for LSEG SmartEstimates. We focus on more consistently accurate analyst forecasts.
Revenue: NT$1.27 trillion ($39.45 billion) vs. NT$1.264 trillion Net profit: NT$706.56 billion vs. NT$632.64 billion
The Taiwanese tech giant’s net profit for the three months ended June hit a record high for the fifth consecutive quarter, increasing 23.4% from the previous quarter.
Sales soared to NT$1.27 trillion, an increase of 36% from NT$933.79 billion in the same period last year. The company said advanced technologies below 7 nanometers accounted for 77% of total wafer revenue.
The company ended the quarter with strong growth, including strong June sales announced earlier this week.
TSMC stock, which has risen more than 58% since the beginning of the year, rose 1.23% on Thursday.
Asia’s most valuable company is riding on strong demand for the AI chips it makes for global tech giants including: Nvidia, apple And Broadcom.
