TSMC’s Q3 revenue surges to record, beating market forecast
The figure of NT$1.49 trillion is up 50% from the year-earlier period due to surging demand for AI applications
Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, announced record third-quarter revenue of NT$1.49 trillion on Thursday, marking a 50% increase from the previous year. This surge in revenue was driven by a surge in demand for artificial intelligence applications. The company managed to surpass market expectations, which had anticipated NT$1.46 trillion in revenue for the quarter.
TSMC is a key supplier to major tech companies like Nvidia and Apple. Despite providing revenue figures exclusively in US dollars, an estimate based on Reuters calculations placed the revenue at US$46.71 billion, slightly above the estimated range of US$44.6 billion to US$45.8 billion. The company did not disclose any additional insights or guidance for the current quarter in its brief statement.
TSMC, valued at US$2.1 trillion, remains Asia's most prestigious publicly traded company. The firm is set to unveil Q3 earnings and provide an updated outlook next Thursday.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
