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Taiwan Semiconductor Manufacturing Co. reported record-breaking quarterly revenue on Monday that topped Wall Street expectations as the global contract chipmaker continues to capitalize on surging AI-related demand.
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Ahead of its second quarterly earnings release on July 16, TSMC said it posted Q2 revenue of $39.6 billion, marking a 36% increase over the prior year quarter and topping the $39.3 billion Wall Street analyst revenue consensus. TSMC’s second quarter revenue was on the high end of the company’s projected quarterly guidance between $39 billion and $40.2 billion.
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The company’s Q2 sales figure also exceeded its previous quarterly revenue record of $35.8 billion set in the first quarter, driven by demand for artificial intelligence applications and high-performance computing chips.
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Read more of this story from the Business Journal.