TSMC Beats Profit Estimates on Surging Chip Demand

2 months ago 53

The Taiwanese institution produces astir 90% of the world’s astir precocious chips

Updated July 18, 2024 2:54 am ET

Taiwan Semiconductor Manufacturing Co. reported a 36% emergence successful second-quarter nett arsenic it continued to witnesser surging request for its precocious chips, with enthusiasm implicit artificial quality sending the spot maker’s shares to grounds highs recently.

The world’s largest declaration spot shaper said Thursday that nett net roseate 36% from a twelvemonth earlier to 247.85 cardinal New Taiwan dollars (US$7.61 billion) for the 3 months ended June. That exceeded the NT$235.12 cardinal statement estimation from a FactSet canvass of analysts.