Taiwan Semiconductor Manufacturing Co. (TSMC) reported its sixth consecutive record quarterly profit. Third-quarter net profit rose 68.7% year over year to NT$763.06 billion ($23.6 billion).
Revenue and earnings both exceeded analyst expectations, supported by strong demand for advanced chips used in artificial intelligence (AI). TSMC forecast fourth-quarter revenue above market estimates, citing continued robust demand for its leading-edge technologies.
Despite the results and outlook, TSMC’s U.S.-listed shares fell amid a broader tech sell-off. Investors focused on gross margin, which declined sequentially to 66.4% as the company ramped up its 2-nanometer technology and expanded overseas.
A cautious note on the 2027 macroeconomic outlook also weighed on sentiment. Investors were concerned about future profitability and the high cost of financing the AI infrastructure boom.