Taiwan Semiconductor Manufacturing Company (TSMC) announced a 54% increase in net profit, driven by heightened demand in the chip industry due to AI applications. During the July-September period, the company’s net income reached 352.3 billion Taiwanese dollars (approximately $10.1 billion), exceeding the LSEG projection of 300.2 billion Taiwanese dollars, as reported by Reuters.
As the world’s leading manufacturer of advanced semiconductors, TSMC provides services to major clients such as Apple and Nvidia. For the third quarter, the company’s net revenue was $23.5 billion, reflecting a 36% increase compared to the previous year, alongside a rise in gross margin to 57.8% from 54.3% during the same timeframe last year.
The company’s capital expenditure saw a slight increase to $6.4 billion in the third quarter, up from $6.36 billion in the preceding three months. TSMC’s strong financial performance was reported in the same week that Dutch company ASML, a supplier of machines to TSMC, projected lower-than-expected net sales, resulting in a decline in its stock value.
This story is ongoing and additional updates will be provided.
