Taiwan Semiconductor Manufacturing Co (TSMC) reported a 36% rise in Q2 net profit to T$247.8bn due to increased demand for AI semiconductors.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, reported a 36% rise in second-quarter net profit, beating market expectations, due to a surge in demand for semiconductors used in AI applications. The company saw its Q2 net profit rise to T$247.8bn ($7.61bn) from T$181.8bn a year earlier. Revenue for the quarter rose 40% to T$673.51bn ($20.82bn) after its June revenue climbed 33%.

July 18, 2024
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