TSMC (TSM, Financial) saw its shares rise by 2.9% in the U.S. market following the release of its second-quarter earnings. The company reported a net profit of TWD 398.3 billion, signaling a 60.7% year-over-year increase, which exceeded market expectations and marked a new record. This growth was driven by the increasing demand for semiconductors fueled by applications in artificial intelligence.
Looking ahead, TSMC forecasts third-quarter sales between $31.8 billion and $33.0 billion, above the estimated $31.72 billion. Additionally, the company anticipates an operating profit margin ranging from 45.5% to 47.5%, slightly below the estimated 46.9%. TSMC also projects a gross margin for the third quarter to be between 55.5% and 57.5%, with estimates at 57.2%.
For the full year, TSMC maintains its capital expenditure forecast at $38 billion to $42 billion.
