Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) delivered a fifth consecutive record quarterly profit, beating Wall Street expectations. At the time of writing, TSMC stock rose 1.23% to close at NT$2,470 ($76.72) in Taipei.
TSMC Revenue, Profit Top Estimates
TSMC reported second-quarter net income of NT$706.56 billion ($22 billion), up 77.4% from a year earlier and well above the NT$632.64 billion analysts had expected.
Net income also climbed 23.4% from the previous quarter, marking the chipmaker’s highest quarterly earnings on record for the fifth straight quarter.
Revenue rose to NT$1.27 trillion ($39.45 billion) during the April-June period, topping the consensus estimate of NT$1.264 trillion and increasing 36% from NT$933.79 billion in the same quarter last year.
