October 9 , 2024

TSMC, the global leader in contract manufacturing of semiconductor chips revealed third quarter revenues that far
exceeded both industry and internal estimates boosted by the rising uptake of Artificial Intelligence (AI). TSMC,
whose customers include Apple and Nvidia, has been on its toes to remain strong although the pandemic demand
has come down due to AI increase.
For July-September, TSMC’s revenue hit T$759.69bn ($23.62bn), up 36.5% YOY. This result was better than the
expectation of the analysts, which was T$750.36 billion ($23.33 billion). The revenue for September was T$251.87
billion, which was even 39.6% more than the revenues of same period previous year.
Year to date, TSMC shares have risen 72%, well ahead of Taiwan’s market which has risen by 26%. In trading on
Wednesday before the revenue report on the stock, the price was up 1 percent.