TSMC Reports Earnings, Sets New Record for Net Profit for Five Straight Quarters

[Financial News] Taiwan's TSMC, the world's largest foundry chipmaker, delivered an earnings surprise that far exceeded market expectations, driven by a surge in demand for AI semiconductors.
On the 16th, TSMC said in its second-quarter earnings report that it posted revenue of NT$1.27 trillion, or about 59 trillion won, and net profit of NT$706.56 billion, or about 33 trillion won. The figures topped market forecasts from LSEG, which had projected revenue of NT$1.264 trillion and net profit of NT$632.64 billion.
Net profit jumped 23.4% from a year earlier, marking a new all-time high for the fifth consecutive quarter.
Revenue also rose 36% from NT$933.79 billion in the same period last year.
The strong results were fueled by a flood of AI chip orders from global tech companies including NVIDIA, Apple, and Broadcom Inc. Growth was also led by advanced process technology, a high-value-added product line.
TSMC said, "Advanced process products at 7-nanometer (nm) and below accounted for 77% of total wafer revenue."
CNBC reported that TSMC had already shown impressive growth in June sales announced earlier this week, and that its second-quarter results further confirmed its powerful momentum.
CNBC also reported that shares of TSMC, Asia's most valuable company by market capitalization, rose on strong earnings driven by AI chip demand from global tech firms such as NVIDIA, Apple, and Broadcom Inc. The stock closed up 1.23% on the day and has surged more than 58% so far this year.

jjyoon@fnnews.com Yoon Jae-jun Reporter