TSMC reports 54% profit increase, beats expectations, driven by AI boom

From CNBC: 2024-10-17 02:41:26

Taiwan Semiconductor Manufacturing Company (TSMC) reported a 54% increase in net profit, reaching 352.3 billion Taiwanese dollars ($10.1 billion) for the July-September quarter. Net revenue was $23.5 billion, up 36% year-on-year, with a gross margin of 57.8%, beating last year’s 54.3%. Capital expenditure rose to $6.4 billion in the third quarter. ASML, TSMC’s supplier, issued a lower-than-expected forecast, impacting shares.



Read more at CNBC:: Profit beats expectations as AI boom drives 54% hike