Key Takeaways
The company’s income increased by little over 36% year on year to NT$247.85 billion (about $7.59 billion). TSMC earned NT$9.56 per share, or $1.48 per American Depositary Receipt (ADR), above expectations.
TSMC is enthusiastic about the forthcoming third quarter, projecting revenues of $22.4 billion to $23.2 billion, representing a 30% to 33% increase over the $17.28 billion reported in the same period last year. Wendell Huang, the company’s Chief Financial Officer, stated that the second-quarter success was driven by high demand for their advanced 3nm and 5nm technology. Despite some seasonal downturn in the smartphone industry, demand for AI and advanced process technologies remains strong.
Taiwan Semiconductor Manufacturing Company (TSMC) reported strong financial performance for the second quarter of 2024, driven by increased demand for AI chips. This large rise in demand has resulted in a 40% increase in TSMC revenue over the same time last year, reaching 673.51 billion New Taiwan dollars (about $20.62 billion). This result exceeded the analysts’ predictions.
Source: This information was obtained and paraphrased from an article by Aaron McDade, updated on July 18, 2024, and originally published on Investopedia. You can check out the full article here.
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