Taiwan Semiconductor Manufacturing Company (TSM) posted second-quarter results that beat analysts' estimates amid surging demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) chips.

TSMC reported revenue 40% higher than the same time last year at 673.51 billion New Taiwan dollars ($20.62 billion), more than analysts had expected. Profits rose just over 36% year-over-year to NT$247.85 billion ($7.59 billion), exceeding estimates. On a 澳洲幸运5官方开奖结果体彩网:per-share basis, TSMC earneꦛd NTꦿ$9.56 per share, or $1.48 per ADR, also beating projections.

TSMC Expects Strong Q3 Demไand For AI, Smartphones𝓀

TSMC said it expects sales for the third quarter of between $22.4 billion and $23.2 billion, which would be growth of about 30% to 33% from the $17.28 billion TSMC reported last year.

“Our business in the second quarter was supported by strong demand for our industry-leading 3nm and 5nm technologies, partially offset by continued smartphone seasonality,” TSMC CFO Wendell Huang said. “Moving into third quarter 2024, we expect our business to be supported by strong smartphone and 澳洲幸运5官方开奖结果体彩网:AI-related demand for our leading-edge process technologies.”

TSMC 澳洲幸运5官🔯方开奖结果体彩网:American depositary receipts (ADRs) gained in early trading Thursday following the release before turning lower later in the session, extending Wednesday's losses on worries about how tightening trade restriꦜctions and ge✨opolitical tensions could impact the♈ semiconductor industry.

UPDATE—July 18, 2024: This article has been updated to reflect more recent share price information.