Profit beats expectations as AI boom drives 54% hike Gaylord Contreras | usagoldmines.com

Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in web revenue, as international chipmakers proceed to profit from demand boosted by AI purposes.

The corporate’s web revenue was 352.3 billion Taiwanese {dollars} ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese {dollars} cited by Reuters.

TSMC is the world’s largest producer of superior chips, serving shoppers resembling Apple and Nvidia.

Web income got here in at $23.5 billion within the third quarter, up 36% year-on-year, with TSMC’s gross margin rising to 57.8% over July-September, in contrast with 54.3% in the identical interval of final 12 months.

Capital expenditure edged greater to $6.4 billion within the third quarter, versus $6.36 billion throughout the three previous months.

TSMC’s earnings beat comes the identical week as Netherlands-based ASML, which provides machines to the Taiwanese firm, issued a lower-than-expected forecast of web gross sales, sending shares tumbling.

This breaking information story is being up to date.