Taiwan Semiconductor Manufacturing Co (TSMC) reported record third-quarter revenue of T$1.49 trillion (US$46.71 billion), beating market expectations as demand for artificial intelligence applications continued to drive growth.
The world’s largest contract chipmaker’s revenue for the July-September quarter rose 50% from T$989.92 billion a year earlier, exceeding the T$1.46 trillion forecast from an LSEG SmartEstimate based on 19 analysts.
TSMC had previously forecast third-quarter revenue of between US$44.6 billion and US$45.8 billion.
September revenue alone rose 54.6% year on year to T$511.86 billion.
The company, a major supplier to Nvidia and Apple, did not provide details or forward guidance in its brief revenue statement.
TSMC is scheduled to report its full third-quarter earnings next Thursday, when it is expected to provide an updated outlook for the current quarter and the rest of the year.
Analysts expect third-quarter net profit to rise 64% year on year to T$740.8 billion, according to the LSEG SmartEstimate.
TSMC’s Taipei-listed shares closed 1.35% lower ahead of the revenue announcement, while the broader market fell 1%. The stock has gained 64.52% so far this year.
The company is Asia’s most valuable publicly listed company, with a market capitalisation of about US$2.1 trillion.
Reuters
