TSMC Q2 Profit Rises 36%, Beating Forecast

A Taiwanese chipmaker posted a 36% rise in second-quarter net profit that beat market expectations as it rides a surge in demand for semiconductors used in artificial intelligence (AI) applications, Yimou Lee and Faith Hung reported for Reuters.

TSMC saw April-June net profit rise to T$247.8 billion from T$181.8 billion a year earlier. I Photo: 曾 成訓 Wikimedia Commons

Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), the world's largest contract chipmaker and a major Apple and Nvidia supplier, saw April-June net profit rise to T$247.8 billion from T$181.8 billion a year earlier.

The profit beat a T$238.8 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.