Taiwanese company Taiwan Semiconductor Manufacturing (TSMC), the world’s largest contract chip manufacturer, increased its revenue in the second quarter by 36 percent year-on-year to a record 1.27 trillion Taiwan dollars, approximately 842 billion Czech crowns. The main driver of growth remains strong demand for chips designed for applications using artificial intelligence.
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Results exceeded analysts’ expectations
The achieved revenue slightly exceeded analysts’ estimates, who according to LSEG expected an amount of 1.264 trillion TWD. In conversion, the result corresponds to approximately 39.62 billion dollars, which fits within the company’s earlier forecast, which expected quarterly revenue between 39 and 40.2 billion dollars. TSMC will publish detailed financial results including an outlook for the next period on Thursday.
For June alone, the company announced revenue of 442.68 billion Taiwan dollars. Year-on-year, it increased by 67.9 percent and month-on-month by 6.2 percent. The release of data was delayed from the original plan due to the expected arrival of Typhoon Bavi, which led to the closure of financial markets in Taipei.
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Strong demand also supports stock growth
TSMC is among the key chip suppliers for companies like Nvidia and Apple and benefits primarily from the rapid development of artificial intelligence infrastructure. The company is also the most valuable publicly traded company in Asia, with a market capitalization of approximately 1.955 trillion dollars.
Shares of TSMC traded on the Taipei stock exchange strengthened by one percent before the data release, while the broader market closed unchanged. Since the beginning of this year, the company’s stock value has increased by 57 percent. In a brief revenue announcement, the company did not provide further details or a new outlook for the future.
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