Taiwan Semiconductor's second-quarter revenue increased by 40%, CoWoS advanced packaging is expected to achieve supply-demand balance in the coming years

Taiwan Semiconductor delivered a quite impressive performance in the second quarter. On July 17th, the leading semiconductor foundry Taiwan Semiconductor released its financial report for the second quarter of 2024. The consolidated revenue for the period was approximately NTD 673.51 billion, an increase of 40.1% compared to the same period last year, and a sequential growth of 13.6%. In terms of US dollars, the second-quarter revenue was USD 20.82 billion, a year-on-year increase of 32.8% and a quarter-on-quarter increase of 10.3%. The net profit for the second quarter was NTD 247.85 billion, up by 36.3% compared to the same period last year and a 9.9% increase from the first quarter, exceeding the expected NTD 235 billion. TSMC Chairman and CEO Wei Zhejia responded to analysts' questions about advanced packaging technology CoWoS during the earnings call