GoKawiilA logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023
Taiwan Semiconductor Manufacturing Co on Thursday reported a 77.4% jump in second-quarter profit year on year, soaring past estimates as the world's largest contract-chipmaker continues to set consecutive record-breaking milestones.
Here are TSMC's second-quarter results against LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
Revenue: 1.27 trillion new Taiwan dollars ($39.45 billion ) vs. NT$1.264 trillion expected
Net income: NT$706.56 billion vs. NT$632.64 billion expected
The company forecast third-quarter revenue between $44.6 billion and $45.8 billion, with operating profit margin of 56% to 58%. "AI related demand continues to be extremely robust," said TSMC Chairman C.C. Wei.
TSMC will invest an additional $100 billion in Arizona to meet strong customer demand, bringing its total investment in the state to $265 billion, Wei added.
"This is to build several or more semiconductor logical wafer fab for two nanometer MP [mass production] technologies, as well as advanced packaging fabs to support the strong multi-year demand from our leading U.S. customers," Wei added.