TSMC second-quarter profit jumps over 77%, beating estimates, on high-end chip boom

Taiwan Semiconductor Manufacturing Co on Thursday reported a 77.4% jump in second-quarter profit year on year, shattering 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 Taiwanese tech giant’s net income for the three months ended in June was a record high for a fifth consecutive quarter, and surged 23.4% from the prior quarter.

Revenue surged to NT$1.27 trillion, a 36% jump from NT$933.79 billion in the same period year ago. Advanced technologies — 7-nanometer and under — accounted for 77% of total wafer revenue, the company said.

The company capped off a quarter of massive growth that included stellar sales in June released earlier this week.

TSMC shares, which have gained over 58% so far this year, rose 1.23% Thursday.

Asia’s most valuable company has been riding robust demand for AI chips it manufactures for global tech giants, including Nvidia, Apple and Broadcom.