TAIPEI (Reuters) – TSMC, the world’s largest contract chip maker, said on Thursday that third-quarter revenue rose 30% year-on-year, beating market expectations, as demand for the company’s products jumped due to growing interest in… artificial intelligence Applications.
Revenue for the July-September period was NT$989.92 billion (US$32.47 billion), according to Reuters calculations, compared with NT$759.69 billion in the same period last year.
The latest result easily beat the LSEG SmartEstimate estimate of TWD973.26 billion derived from 22 analysts, and was in the middle of the $31.8 billion to $33 billion guidance point issued by TSMC in July on its last earnings call. TSMC provides guidance in US dollars only.
TSMC will report full third-quarter earnings on October 16, including updated forecasts for the current quarter and the full year.
The company whose clients include Nvidia and applehas been a major beneficiary of advances in artificial intelligence, which has more than offset the gradual reduction in demand caused by the pandemic for chips used in consumer electronics such as tablets.
Taipei-listed TSMC shares have risen 34% so far this year, compared with an 18.5% rise in the broader market.
Taiwan’s Foxconn, the world’s largest contract electronics maker and Nvidia’s largest server maker, also reported bumper sales, recording its highest revenue ever in the third quarter.
($1 = 30.4880 New Taiwan dollars)
(Reporting by Ben Blanchard and Faith Hong; Editing by Jamie Freed and Muralikumar Anantharaman)
https://media.zenfs.com/en/reuters-finance.com/15845453bb29e934135ac0fe72b15211
Source link