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TSMC’s third-quarter profit handily beats forecasts on AI boom

Asia’s most valuable publicly listed company saw profit jump 54 per cent last quarter

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Taiwan Semiconductor Manufacturing Company is the world’s largest contract chip maker. Photo: Reuters
Reuters
Taiwan Semiconductor Manufacturing Company (TSMC), the dominant producer of advanced chips used in artificial intelligence (AI) applications, reported on Thursday a forecast-beating 54 per cent jump in third-quarter profit on the back of soaring demand.
The world’s largest contract chip maker, whose customers include Apple and Nvidia, has benefited from a surge towards AI across a spectrum of industries.

TSMC posted a net profit of T$325.3 billion (US$10.11 billion) for the quarter ended September 30, compared with the T$300.2 billion predicted by an LSEG SmartEstimate drawn from 22 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.

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TSMC, Asia’s most valuable publicly listed company, said third-quarter revenue rose 36 per cent year on year to US$23.5 billion, better than the company’s previous forecast of US$22.4 billion to US$23.2 billion. The company last week announced third-quarter revenue in Taiwan dollars, coming in at T$759.69 billion.

A TSMC facility in Taichung. Photo: Shutterstock
A TSMC facility in Taichung. Photo: Shutterstock

Capital expenditure in the third quarter was US$6.4 billion, TSMC said, compared with US$6.36 billion in the second quarter.

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