TSMC (TSM, Financial) saw its stock surge over 4% in U.S. pre-market trading, reaching $248. The company announced impressive Q2 results, with net profit soaring 60.7% year-over-year to 398.3 billion TWD, surpassing market expectations and setting a new record. This growth was largely driven by the increasing demand for semiconductors in the artificial intelligence sector.
For the third quarter, TSMC forecasts sales between $31.8 billion and $33 billion, slightly above the estimated $31.72 billion. The company also projects an operating margin of 45.5% to 47.5%, compared to an estimated 46.9%. Additionally, TSMC anticipates a gross margin ranging from 55.5% to 57.5%, with the market estimating 57.2%.
TSMC maintains its full-year capital expenditure forecast of $38 billion to $42 billion.
