AI demand sparks 36% second-quarter revenue record for TSMC
Monday, the biggest contract chipmaker in the world, TSMC, announced record-high second-quarter revenue, up 36% year over year, driven by soaring demand for AI products. Revenue in the April-June period of this year reached T$1.27 trillion, equivalent to $39.62 billion, as per calculations, marginally surpassing the T$1.264 trillion LSEG SmartEstimate derived from 20 analysts. Taiwan Semiconductor Manufacturing Co is a significant supplier to firms such as Nvidia and Apple. During its most recent earnings call in April, the company projected second-quarter revenue to fall within the range of $39 billion to $40.2 billion.
The company provides its forecast exclusively in US dollars, omitting Taiwan dollars from consideration. In June, TSMC disclosed that its revenue increased by 67.9 percent year-on-year, reaching T$442.68 billion, marking a 6.2 percent rise compared to the prior month. The data was originally due last Friday; however, it experienced a delay owing to the impending arrival of Typhoon Bavi, which resulted in the closure of financial markets in Taipei on that day. TSMC, Asia’s most valuable publicly listed company with a market capitalisation of $1.955 trillion, did not provide any details or forward guidance in its brief revenue statement.
It is set to announce its second-quarter earnings on Thursday, at which point it will also provide an update on its outlook and strategies for the current quarter and the remainder of the year. TSMC is anticipated to announce a 58.8 percent year-on-year increase in net profit for the second quarter, based on an LSEG SmartEstimate. TSMC’s Taipei-listed shares experienced a 1 percent increase on Monday in anticipation of the forthcoming sales data release. The broader market concluded the trading session with little change. The company’s shares have risen 57 per cent so far this year, consistent with the broader market trends.
