Growing demand for AI technologies has helped Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, achieve record revenue in the 2nd quarter of the year. The company reported a 36% year-on-year increase in revenue for the April–June period, reaching a record T$1.27 trillion ($39.62 billion).
The reported revenue was slightly higher than the T$1.264 trillion estimate based on projections from 20 analysts. TSMC is a key chip manufacturing partner for companies including Nvidia and Apple.
During its earnings call in April, TSMC had forecast 2nd-quarter revenue between $39 billion and $40.2 billion. The company provides its financial guidance only in U.S. dollars and not in Taiwan dollars.
For June, TSMC reported revenue of T$442.68 billion, marking a 67.9% increase compared to the same month last year and a 6.2% rise from the previous month.
The company had originally planned to release the sales figures last Friday, but the announcement was delayed due to the expected arrival of Typhoon Bavi, which led to the closure of financial markets in Taipei.
TSMC, Asia’s most valuable publicly listed company with a market capitalisation of $1.955 trillion, did not provide additional business details or forward guidance in its revenue update.
The company is scheduled to announce its full 2nd-quarter earnings on Thursday, when it is also expected to share its outlook for the current quarter and the remainder of the year.
According to analyst estimates, TSMC is expected to report a 58.8% year-on-year increase in 2nd-quarter net profit.
Ahead of the revenue announcement, TSMC’s shares listed in Taipei closed 1% higher on Monday, while the broader market ended the day flat. The company’s stock has gained 57% so far this year, matching the performance of the broader market.
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