TSMC Q3 Net Profit Up 54%... Exceeds Expectations
TSMC, the world's largest foundry (semiconductor contract manufacturer), announced on the 17th that its net profit for the third quarter of this year reached 325.26 billion New Taiwan dollars (approximately 13.8236 trillion KRW), a 54.2% increase compared to the same period last year.
This significantly exceeded the market research firm LSEG's forecast of 300.2 billion New Taiwan dollars (approximately 12.7645 trillion KRW).
![[Image source=AFP Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2024092409283736590_1727137718.jpg)
Third-quarter revenue was recorded at 759.69 billion New Taiwan dollars (approximately 32.302 trillion KRW), a 39% increase compared to the same period last year.
Compared to the previous quarter, revenue increased by 12.8%, and net profit rose by 31.2%.
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TSMC, which produces cutting-edge semiconductors necessary for training artificial intelligence (AI) models, is considered a major beneficiary of the recent global AI boom. Its key clients include Apple and Nvidia.
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