The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen at the opening ceremony of the TSMC Global Research and Development Center in Hsinchu, 28 July 2023.
Amber Wang | Afp | Getty Images
Taiwan Semiconductor Manufacturing Company on Thursday reported a 77.4% year-over-year jump in second-quarter profit, crushing estimates as the world’s largest contract chipmaker continues to set consecutive record earnings.
Here are TSMC’s second-quarter results compared to LSEG SmartEstimates, which are based on analyst forecasts that are more accurate:
- Revenue: NT$1.27 trillion ($39.45 billion), versus NT$1.264 trillion expected.
- Net profit: NT$706.56 billion vs. expected NT$632.64 billion.
The Taiwanese tech giant’s net profit for the three months ended June hit a record high for the fifth straight quarter and rose 23.4% from the previous quarter.
Revenue rose to NT$1.27 trillion, up 36% from NT$933.79 billion in the same period a year ago. According to the company, advanced technologies—7 nanometers and below—accounted for 77% of total wafer revenue.
The company completed a quarter of impressive growth, including stellar June sales reported earlier this week.
TSMC shares, which are up more than 58% this year, were up 1.23% on Thursday.
Asia’s most valuable company is enjoying strong demand for the artificial intelligence chips it makes for global tech giants including Nvidia, Apple and Broadcom.
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