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TSMC posts record revenue in second quarter on AI demand.

companies :: 5hrs ago :: source - reuters

By Reuters

(Reuters) - TSMC, the world's largest contract chipmaker, reported on Monday second-quarter revenue that rose 36% from ‌a year earlier to a record high on surging ‌interest in artificial intelligence applications.

Revenue in the April-June period of this year came in ​at T$1.27 trillion ($39.62 billion), according to Reuters calculations, slightly above a T$1.264 trillion LSEG SmartEstimate drawn from 20 analysts.

Taiwan Semiconductor Manufacturing Co (TSMC) is a major supplier to companies including Nvidia and Apple.

On its last earnings call in ‌April, the company predicted ⁠second-quarter revenue of between $39 billion and $40.2 billion. The company gives its forecast only in U.S. dollars and not ⁠Taiwan dollars.

For June alone, TSMC reported that revenue rose 67.9% year-on-year to T$442.68 billion, which was up 6.2% compared with the previous month.

The ​data was ​originally due last Friday, but ​it was delayed due to ‌the impending arrival of Typhoon Bavi, which shut financial markets in Taipei that day.

TSMC, Asia's most valuable publicly listed company with a market capitalisation of $1.955 trillion, did not provide any details or forward guidance in its brief revenue statement.

It is scheduled to report second-quarter earnings on Thursday, ‌when it will also update its ​outlook and plans for the current quarter ​and the rest of ​the year.

TSMC is expected to report a 58.8% on-year ‌rise in second-quarter net profit, according ​to an LSEG ​SmartEstimate.

TSMC's Taipei-listed shares closed up 1% on Monday ahead of the release of the sales data. The broader market closed flat.

The company's ​shares have risen 57% so ‌far this year, in line with the broader market.

($1 = 32.0530 ​Taiwan dollars)

(Reporting by Wen-Yee Lee and Ben Blanchard; Editing ​by Thomas Derpinghaus and Jamie Freed)


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