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us finance Major Story (7/10) ·

TSMC's Second-Quarter Profit Jumps 77% as AI Chip Demand Keeps Beating Estimates

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TSMC's Second-Quarter Profit Jumps 77% as AI Chip Demand Keeps Beating Estimates
Taiwan Semiconductor reported second-quarter net income up 77.4% year over year, its fifth straight record quarter, driven by advanced chips for Nvidia, Apple and Broadcom. The AI buildout everyone said couldn't keep accelerating just kept accelerating.

Taiwan Semiconductor Manufacturing Co. reported Thursday, July 16, that second-quarter net income jumped 77.4% year over year, according to CNBC. That's the company's fifth consecutive record-breaking quarter, and it beat analyst estimates tracked by LSEG SmartEstimates, which weight forecasts toward analysts with the best track records.

Revenue hit NT$1.27 trillion (roughly $39 billion), up 36% from NT$933.

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