TSMC posts record NT$763.1 billion profit in third quarter — CNBC

Taiwan's Taiwan Semiconductor Manufacturing Co. (TSMC) posted a record net profit of NT$763.1 billion in the third quarter, CNBC reports. This is 68.7% higher than in the same period last year and marks the company's sixth consecutive quarterly record.

Results exceeded forecasts

The world's largest contract chipmaker's revenue in July–September amounted to NT$1.49 trillion, or $46.36 billion. Analysts surveyed by LSEG SmartEstimates expected revenue of NT$1.47 trillion and net profit of NT$746.34 billion.

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The company's record results are linked to sustained global demand for chips for artificial intelligence systems and other advanced semiconductors. In September, TSMC reported that its monthly revenue rose 54.6% year on year to NT$511.86 billion.

Plans in the United States

When announcing its second-quarter results in July, TSMC outlined plans to expand its manufacturing capacity in the United States, with total planned investment of $265 billion in Arizona. The company is also considering further expansion in the United States, including potential investments in Texas.