TSMC Surges Ahead: Beating Market Expectations with AI-Driven Profits

TSMC reported a 54% rise in net profit for the third quarter, surpassing market expectations. This growth is driven by increasing demand for semiconductors in AI applications. The company's net profit reached T$325.3 billion, beating the forecast of T$300.2 billion as per LSEG SmartEstimate.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a leading player in the global tech sector, recorded a significant 54% increase in net profit during the third quarter. This surge outperformed market predictions and underscored the escalating demand for semiconductors, particularly for artificial intelligence applications.

During the financial period from July to September, TSMC's profit jumped to T$325.3 billion ($10.11 billion), a considerable leap from T$211 billion during the same quarter the previous year. As the world's largest contract chipmaker and a key supplier to tech giants like Apple and Nvidia, TSMC continues to capitalize on the booming semiconductor market.

The net profit figures exceeded the anticipated T$300.2 billion, based on LSEG SmartEstimate, which is renowned for its reliable analyst forecasts. The current exchange rate stands at $1 equaling 32.1700 Taiwan dollars.

(With inputs from agencies.)