It reported consolidated revenue of 673.51 billion New Taiwan dollars (approximately US$20.82 billion), reflecting a 40.1 percent year-on-year increase and a rise of 13.6 percent from the previous quarter.
TSMC’s net income rose by 9.9 percent from the first quarter, hitting 247.85 billion New Taiwan dollars.
“Our business in the second quarter was supported by strong demand for our industry-leading 3nm and 5nm technologies, partially offset by continued smartphone seasonality,” said Senior Vice President and CFO Wendell Huang.
Huang added that moving into the third quarter, the company aims to leverage growing demand for AI-related services, including smartphones, high-performance computing and generative AI. To meet this demand, TSMC has launched new factories overseas, including three planned in the US and one in Japan that opened this year.
Looking forward to Q3, TSMC expects revenue of US$22.4 billion to US$23.2 billion.
After closing on Tuesday (July 16) at US$186.14, TSMC fell as low as US$171.16 on Wednesday. It sank even further on Thursday (July 18), reaching US$166.14 before finishing the day at US$171.81.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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