Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) stock fell in Thursday’s premarket session as investors weighed the company’s larger capital spending plans.
Taiwan Semiconductor Beats Estimates, Expands Margins
Taiwan Semiconductor reported second-quarter revenue of $40.2 billion, topping the analyst consensus of $39.76 billion. The result also reached the high end of the company’s guidance range of $39 billion to $40.2 billion.
The world’s largest contract chipmaker posted record second-quarter net profit of about $22 billion, driven by continued demand for artificial intelligence processors.
Gross margin rose to 67.7%, up 150 basis points from the prior quarter and above company guidance.
