Taiwan Semiconductor Manufacturing Co reports $39.62 billion Q2 revenue, beating guidance amid strong AI-driven orders.
Taiwan Semiconductor Manufacturing Co (TSM) reported a 36% year-on-year increase in second-quarter revenue to $1.27 trillion New Taiwan dollars ($39.62 billion), driven by surging demand for artificial intelligence chips. The figure slightly exceeded the $1.264 trillion LSEG SmartEstimate compiled from 20 analysts.
The company had previously guided for revenue between $39.0 billion and $40.2 billion in U.S. dollars. June revenue reached $442.68 billion New Taiwan dollars, up 67.9% from the same month last year and 6.2% from May. The release was delayed due to Typhoon Bavi disrupting Taipei financial markets.
TSMC, a key supplier for Nvidia and Apple, will release full earnings on Thursday. Analysts expect further details on guidance for the current quarter and the remainder of the year.