Taiwan Semiconductor Manufacturing Co. (TSMC) reported its strongest quarter on record on Thursday, posting a 77.4% increase in second-quarter profit as demand for advanced semiconductors used in artificial intelligence applications continued to lift the world's largest contract chipmaker.
Net income for the April-to-June period rose to NT$706.56 billion ($22 billion), while revenue climbed to NT$1.27 trillion ($39.45 billion), both exceeding analyst estimates and marking the fifth consecutive quarter of record earnings. The company also forecast third-quarter revenue between $44.6 billion and $45.8 billion.
