Key facts
- TSMC's third-quarter net profit rose to T$763.1 billion ($23.59 billion).
- Net profit jumped 69% year-on-year.
- Revenue surged 50% year-on-year.
- Fourth-quarter revenue is expected to rise as much as 61% from a year earlier.
Taiwan Semiconductor Manufacturing Co. reported a record T$763.1 billion ($23.59 billion) net profit for the third quarter, marking its sixth consecutive quarter of record earnings. The 69% year-on-year increase was fueled by strong demand for AI processors and advanced packaging technology, surpassing market forecasts. The company's revenue also saw a 50% year-on-year rise. TSMC expects fourth-quarter revenue to increase as much as 61% from a year earlier. The company is investing $265 billion in chip factories in the US and has raised its capital expenditure forecast for the year to between $60 billion and $64 billion. TSMC's stock has gained 63% year-to-date, with its market capitalization around $2 trillion.