TSMC second-quarter profit jumps over 77%, beating estimates, on high-end chip boom
TSMC announced a second-quarter profit, following its June revenue figures released earlier this week.
JaneWalter
A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023
Amber Wang | Afp | Getty Images
Taiwan Semiconductor Manufacturing Co on Thursday reported a 77.4% jump in second-quarter profit year on year, 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 expectedNet income: NT$706.56 billion vs. NT$632.64 billion expectedThe Taiwanese tech giant's net income for the three months ended in June was a record high for a fifth consecutive quarter, and surged 23.4% from the prior quarter.
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.
