TSMC posts record third-quarter profit on AI demand
Taiwan Semiconductor Manufacturing Co. (TSMC), the chip maker, reported a record 763.34 billion Taiwanese dollars in third-quarter net profit, its sixth straight record quarter. Its CEO said there were no signs of slowing demand.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
TSMC, the semiconductor foundry, reported record third-quarter net profit of 763.34 Taiwanese new dollars, beating analyst estimates. It was the company's sixth straight quarter of record profit, driven by the AI boom. The company's CEO said there was no sign of a slowdown.
Why it matters
Analysts at JPMorgan and Citigroup had expected further revenue growth for the company. The CEO's comments suggest demand for its chips is not slowing.
Timeline
- Oct 14, 7:36 AM ET: Analysts at JPMorgan and Citigroup were watching TSMC ahead of its results, expecting further revenue growth.
- Oct 15, 1:37 AM ET: TSMC reported its third-quarter earnings on Thursday, posting a record profit for a sixth straight quarter.
- Oct 15, 4:42 AM ET: TSMC's CEO said the company sees no sign of a slowdown.
Coverage
- TSMC CEO sees no sign of a slowdown as chip foundry reports record profit (marketwatch.com)
- TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom (CNBC)
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