Business
TSMC’s Q3 Profit Soars by 54%, Shattering Forecasts Amid AI Industry Surge
TSMC's third-quarter earnings significantly surpassed predictions due to the surge in AI
The most highly valued publicly traded company in Asia witnessed a 54% increase in profit in the previous quarter.
TSMC reported a net earning of T$325.3 billion (US$10.11 billion) for the quarter that concluded on September 30, surpassing the projected T$300.2 billion from an LSEG SmartEstimate, which was based on the opinions of 22 analysts. The SmartEstimates system gives more importance to predictions from analysts with a track record of accuracy.
TSMC, the most expensive publicly traded company in Asia, reported a 36% increase in third-quarter revenue compared to the previous year, reaching US$23.5 billion. This result surpassed their prior projection of earning between US$22.4 billion and US$23.2 billion. Just last week, the company disclosed their third-quarter revenue in Taiwanese dollars, which totalled T$759.69 billion.
TSMC reported that the capital spending in the third quarter amounted to US$6.4 billion, a slight increase from the second quarter's US$6.36 billion.
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