TSMC Surpasses Third-Quarter Revenue Expectations, Driven by AI Demand
Key Points TSMC reports third-quarter revenue of T$759.69 billion ($23.62 billion), surpassing market expectations. Year-on-year revenue growth stands at 36.5%, driven by AI-related demand. TSMC’s revenue for September alone surged 39.6% year-on-year. The company’s stock has risen 72% in 2024, outperforming the broader market. Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, reported third-quarter revenue that significantly exceeded both market forecasts and the company’s estimates, benefiting from strong demand for artificial intelligence (AI) technologies. TSMC’s revenue for the July-September period reached T$759.69 billion (approximately $23.62 billion), beating analysts' projections of T$750.36 billion ($23.33 billion), according to LSEG SmartEstimate,...
