TSMC Q2 profit jumps 77% to record, far surpasses expectations

TSMC posted ‌a 77% jump in second-quarter ​net profit on Thursday, beating market forecasts and hitting a record, ‌riding ⁠the wave of surging global demand for ⁠its artificial intelligence processors.

Taiwan Semiconductor Manufacturing ​Co, whose ​customers ​include Nvidia and ‌Apple, saw April-June net profit rise to T$706.6 billion ($21.99 billion).

The profit handily beat a T$632.6 ‌billion LSEG ​SmartEstimate, which ​is ​weighted toward forecasts ‌from analysts who are ​more ​consistently accurate. Reuters