TSMC Q3 profit jumps 69% to record, beating expectations

TSMC, the world’s largest contract chipmaker, posted a 69% jump in third-quarter net profit on Thursday, beating market forecasts and hitting a record, thanks to soaring global demand for its AI processors.

Taiwan Semiconductor Manufacturing Co, whose customers include Nvidia and Apple, said its July-to-September net profit rose to T$763.1 billion ($23.59 billion).

The profit easily beat a T$746.3 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.