Taiwan Semiconductor Manufacturing Company reported a near 61% year-on-year rise in second-quarter profit, hitting a record high and beating estimates, as demand for artificial intelligence chips stayed strong.
The world’s largest contract chip manufacturer forecast third-quarter revenue between $31.8 billion and $33.0 billion — a 38% year-over-year increase and 8% higher from the prior quarter at the midpoint.
TSMC’s net revenue in the June quarter rose 38.65% from a year ago to NT$933.80 billion, also beating estimates.
TSMC’s high-performance computing division, which encompasses artificial intelligence and 5G applications, drove second quarter sales, contributing 60% of revenue. That share of HPC revenue was up from 52% in the same period last year.
TSMC has benefited from the artificial-intelligence megatrend as it manufactures advanced AI processors for clients including Nvidia and Apple.
