Taiwan Semiconductor Manufacturing (NYSE:TSM) revenue for September surged 39.6% year-over-year to about NT$251.87B amid growing demand for artificial intelligence chips for use in AI products.
TSM — which produces chips for some of the world's largest tech companies including Apple (AAPL), Nvidia (NVDA) and AMD (AMD) — saw September-quarter revenue of NT$759.69B (adding revenues for July NT$256.95B, August NT$250.87B and September NT$251.87B) (about $23.6B).
The average analyst forecast is NT$748B, according to a report by Bloomberg News.
While announcing its second quarter results in July, TSM said it expected third quarter revenue to be between $22.4B and $23.2B (midpoint of $22.8B). For the third quarter, the company expected its business to be helped by strong smartphone and AI-related demand for its leading-edge process technologies.
Month-over-month TSM's revenue rose 0.4% as it had generated NT$250.87B in revenue in August.
TSM is slated to report its third quarter results on Oct. 17.
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