TECH - Apple Nvidia Supplier TSMC Reports Strong Q2 Results Amid Booming Demand For AI Chips Guides Q3 Above Consensus: 2024 To Be 'Strong Growth Year' Says CEO | Benzinga
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSMC) reported strong revenue and earnings growth for the second quarter, which came in above estimates, buoyed by robust demand for AI chips used in hyper-performance computing. The company also issued upbeat guidance for the third quarter.
TSMC’s Key Q2 Numbers: Hsinchu, Taiwan-based TSMC reported consolidated second-quarter revenue of NT$673.51 billion ($20.82 billion), up 40.1% year-over-year. Sequentially, the top line expanded by 13.6%. In dollar terms, the revenue growth was 32.8% year-over-year and 10.3% quarter-over-quarter.
Revenue topped the NT$657.58 billion LSEG consensus estimates, according to CNBC.
The sequential revenue growth was aided by strong demand for 3-nanometer and 5-nm technologies, partly offset by continued smartphone seasonality, the company said.
High-performance computing and smartphone end markets accounted for 52% and 33% of net revenue, respectively. IoT, automotive, digital consumer electronics and others made up of 5%, 2% and 2%, respectively. HPC revenue climbed 28% sequentially, while smartphone revenue declined 1%.
North American-based ...