TAIPEI — Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, reported strong growth in second-quarter (Q2) revenue on Wednesday that handily beat market forecasts, on the back of booming demand for artificial intelligence (AI) applications.
TSMC, whose customers include Apple and Nvidia, has benefited from the surge toward AI that has helped it weather the tapering off of pandemic-led demand and pushed TSMC’s share price to a record high.
Revenue in the April-June period of this year came in at NT$673.51 billion ($20.67 billion), according to Reuters calculations, compared with an LSEG SmartEstimate, drawn from 21 analysts, of NT$654.27 billion.
That represents growth of 32 percent on-year, compared with $15.68 billion in the year-ago period.
It is not a direct comparison as TSMC provides monthly revenue data only in Taiwan dollars, but gives quarterly revenue figures and its outlook on its quarterly earnings calls both in US dollars.
On its most recent earnings call in April, TSMC forecast second-quarter revenue in a range of between $19.6 billion and $20.4 billion.
For June alone, TSMC reported that revenue rose 33 percent year on year to NT$207.87 billion.
The company did not provide details in its brief revenue statement.
TSMC shares rose 0.5 percent on Wednesday, taking its gains far this year to around 76 percent.
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