Daijiworld Media Network - Taipei

Taipei, Oct 8: Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, reported record third-quarter revenue of T$1.49 trillion ($46.71 billion), marking a 50 per cent increase from the year-ago period amid strong demand for artificial intelligence applications.

The July-September revenue surpassed the market forecast of T$1.46 trillion, based on an LSEG SmartEstimate compiled from 19 analysts. TSMC had recorded revenue of T$989.92 billion in the corresponding quarter last year.

For September alone, the company reported revenue of T$511.86 billion, up 54.6 per cent year-on-year.

TSMC, a major supplier to companies including Nvidia and Apple, had earlier forecast third-quarter revenue between $44.6 billion and $45.8 billion.

The company did not provide further details or forward guidance in its latest revenue statement. It is scheduled to announce its third-quarter earnings next Thursday, when it is expected to provide an updated outlook for the current quarter and the remainder of the year.

According to the LSEG SmartEstimate, TSMC is expected to report a 64 per cent year-on-year increase in third-quarter net profit to T$740.8 billion.

The company's shares listed in Taipei closed 1.35 per cent lower on Thursday ahead of the revenue announcement, while the broader market declined 1 per cent. TSMC shares have gained 64.52 per cent so far this year.