TSMC Reports Record Third-Quarter Revenue as Profit Forecast Looms

Taiwan Semiconductor Manufacturing Co. reported record third-quarter revenue, up 50% from a year earlier, as demand for advanced chips used in artificial intelligence infrastructure continued to support growth. The company’s earnings and updated forecasts were still scheduled to be announced on Thursday, October 15. The revenue figure, reported last week, exceeded market expectations. It came as technology companies expanded spending on AI infrastructure, bolstering demand for TSMC’s chipmaking capacity and advanced packaging technology, including its CoWoS process, according to analysts. A forecast compiled by LSEG SmartEstimate from 16 analysts puts TSMC’s third-quarter net profit at about NT$746.3 billion, a 65% increase from a year earlier. That remains an estimate, not a reported result. If achieved, it would exceed the previous quarterly profit record of NT$706.56 billion and mark a sixth consecutive record quarter. The company’s actual profit figures had not yet been released. TSMC’s earnings call, scheduled for Thursday at 0600 GMT, is expected to include fourth-quarter and updated full-year guidance.