TSMC second-quarter profit seen jumping 30% on surging AI chip demand
The Hindu
Taiwan Semiconductor Manufacturing Co expected to report 30% profit rise, driven by AI chip demand and record market value.
Taiwan Semiconductor Manufacturing Co, the main producer of advanced chips used in artificial intelligence applications, is expected to report a 30% rise in second-quarter profit on Thursday thanks to soaring demand.
The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has pushed TSMC's stock - and the broader Taiwan market - to record highs. Last week, its American Depositary Receipts topped a trillion dollar market value.
TSMC is set to report a net profit of T$236.1 billion ($7.25 billion) for the quarter ended June 30, according to a LSEG SmartEstimate drawn from 20 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.
That estimate compares to the 2023 second-quarter net profit of T$181.8 billion.
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TSMC last week reported a jump in second-quarter revenue, comfortably beating market expectations.
"I expect the third quarter outlook for all of their products to be very good," said President Capital Management Co Chairman Li Fang-kuo.
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