TSMC Q2 net profit soars 36%, exceeding expectations

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading contract chipmaker, reported on Thursday a robust 36 per cent year-on-year increase in net profit for the second quarter of 2024.

This positive result surpasses market analysts’ expectations and underscores the ongoing boom in demand for semiconductors used in artificial intelligence (AI) applications.

TSMC, a major supplier to tech giants like Apple and Nvidia, announced net profit of T$247.8 billion for the April-June period, compared to T$181.8 billion during the same quarter in 2023.

This figure significantly outperforms the T$238.8 billion LSEG SmartEstimate, a metric weighted towards forecasts from consistently accurate analysts.

Attribution: Reuters