TSMC Q3 profit rises 54%, better than forecasts
Taiwan Semiconductor Manufacturing Co (TSMC) reported a 54% increase in Q3 net profit, reaching T$ 181.3 billion, surpassing market expectations. The surge is attributed to high demand for semiconductors in AI applications. This profit exceeded the T$ 171.2 billion forecast from analysts, highlighting TSMC's strong position as a leading chip supplier for major companies like Apple and Nvidia.
TAIPEI, Oct 17 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) posted a 54% rise in third-quarter net profit on Thursday that beat market expectations as it continues to reap the rewards of surging demand for semiconductors used in artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (TSM.N) , the world’s largest contract chipmaker and a major Apple (AAPL.O) and Nvidia (NVDA.O) supplier, saw July-September net profit rise to T$325.3 billion ($10.11 billion) from T$211 billion a year earlier.
The profit beat a T$300.2 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. ($1 = 32.1700 Taiwan dollars)