TSMC bullish on outlook as AI boom blows Q3 profit past forecasts

Quick Summary:

TAIPEI : TSMC, the world's largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54 per cent jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI).

The company last week announced third-quarter revenue in Taiwan dollars, coming in at T$759.69 billion.

The company's robust performance and outlook underscore the continued strong demand for AI, after some industry watchers raised doubts following a lower than expected 2025 sales outlook earlier this week from ASML, the world's biggest chipmaking equipment supplier.

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Article Details

Category: EconomyBusiness

Markets: SingaporeTaiwan

Topics: Quarter Compared Company Year Billion Cent 2024 Taiwan Tsmc Strong Demand

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 06:02:27 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 744 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23100086

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