Taiwan Semiconductor Manufacturing Co. (TSMC) reported record third-quarter revenue of T$1.49 trillion (US$46.71 billion). Revenue rose 50% from the same period last year.
Results exceeded TSMC’s own guidance and analyst expectations of about T$1.46 trillion. The company announced the results after markets closed in Taipei.
Demand for advanced chips used in artificial intelligence (AI), data centers and high-performance computing drove the increase. TSMC supplies major technology companies, including Apple and Nvidia, and has benefited from the global AI boom.
TSMC is scheduled to release its full quarterly earnings and updated guidance on October 15.