TSMC Q2 profit rises 36%, better than forecast

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TSMC Q2 profit rises 36%, better than forecast - Channel News Asia

Quick Summary:

TAIPEI : Taiwanese chipmaker TSMC posted a 36 per cent rise in second-quarter net profit on Thursday that beat market expectations as it rides a surge in demand for semiconductors used in artificial intelligence applications.

TSMC logo is seen at TSMC Museum of Innovation in Hsinchu, Taiwan May 29, 2024.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple and Nvidia supplier, saw April-June net profit rise to T$247.8 billion from T$181.8 billion a year earlier.The profit beat a T$238.8 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.