TSMC Q3 revenue beats estimates on AI demand
Taiwan Semiconductor Manufacturing Company reported record third-quarter revenue on Thursday. Strong AI chip demand lifted sales well above market forecasts.
Revenue rose 50% from last year to T$1.49 trillion, or $46.71 billion. The figure beat the LSEG SmartEstimate of T$1.46 trillion from 19 analysts.
September was the strongest month. Revenue hit T$511.86 billion, up 54.6% from a year ago.
TSMC makes chips for Nvidia and Apple. It is the world’s largest contract chipmaker. The boom in artificial intelligence has kept its factories busy.
The company will report full third-quarter earnings next Thursday. Investors will watch for guidance on the rest of the year.
TSMC shares fell 1.35% on Thursday. The stock has still been strong this year on AI hopes. The company is valued at about $2.1 trillion.
Analysts say the results show AI demand remains firm. That is good news for the wider chip industry. Many expect TSMC to guide higher for the rest of the year.
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