Taiwan's TSMC sees 40% increase in profit in the third quarter, driven by the expanding demand for AI semiconductors.

October 14, 2024, 9:08 AM GMT+9

Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest semiconductor foundry, is expected to see a 40% year-on-year increase in net profit in the third quarter due to the rapid expansion of demand for artificial intelligence (AI) semiconductors.
According to estimates from 22 analysts compiled by LSEG Smart Estimate, the net profit is expected to be 298.2 billion Taiwanese dollars (9.27 billion US dollars), compared to 211 billion Taiwanese dollars in the same quarter last year.
TSMC announced its monthly revenue last week. The third quarter revenue in Taiwanese dollars surged, significantly exceeding market expectations. The company will disclose the revenue forecast in US dollars during the earnings call.

TSMC announced its monthly revenue last week. The third quarter revenue in Taiwanese dollars surged, significantly exceeding market expectations. The company will disclose the revenue forecast in US dollars during the earnings call. Read more
President Capital Management Chairman Li Fang-kuo stated that most of TSMC's key customers, such as Apple, Nvidia, AMD, Qualcomm, MediaTek, heavily rely on the company's advanced process technology to launch new products. The third-quarter profits are expected to significantly exceed estimates.

The third-quarter earnings will be announced on the 17th at 06:00 GMT (3:00 PM Japan time). It will also provide the latest forecast for the fourth quarter and full year, including capital investments.