TSMC's profit beats forecast amid AI surge

Taiwan Semiconductor Manufacturing

- DEBBY WU VLAD SAVOV

Co surpassed expectations with strong profit growth, supporting bullish indications from US chip designers about AI hardware demand.The world’s top contract chipmaker yesterday reported NT$505.7 billion ($16 billion) in net income for the December quarter, versus the average analyst estimate for 25% growth to NT$467 billion.

TSMC is Asia’s most valuable company and a closely watched bellwether for the semiconductor industry at the heart of the artificial intelligence boom. Its strong set of results included better-than-expected sales of $33.1 billion in the period, helping the company surpass $100 billion in annual revenue for the first time.