TSMC posts record quarterly revenue, highest-ever September sales

Taipei, Oct. 8 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC) on Thursday reported record quarterly revenue and its highest-ever sales for the month of September, with analysts attributing the performance to robust artificial intelligence (AI) demand and rising smartphone-related orders.

In a statement, the world's largest contract chipmaker said its unaudited consolidated revenue for September totaled NT$511.86 billion (US$16.03 billion), up 54.6 percent from a year earlier.

Although September revenue slipped 0.6 percent from the record NT$514.81 billion posted in August, it marked the company's highest-ever sales for the month.

Third-quarter consolidated revenue reached a record NT$1.49 trillion, up 17.62 percent from the previous quarter and above the company's guidance.

TSMC had forecast third-quarter revenue of US$44.6 billion to US$45.8 billion, based on an assumed exchange rate of NT$32 to the U.S. dollar. The reported figure exceeded the high end of that range, which was equivalent to about NT$1.47 trillion.

Analysts said strong demand for AI chips, coupled with inventory buildup by smartphone makers ahead of new product launches, drove the record quarterly performance.

In the first nine months of the year, TSMC's consolidated revenue totaled NT$3.899 trillion, up 41.1 percent from the same period last year.

The company is scheduled to hold an online investor conference on Oct. 15. Analysts expect its fourth-quarter revenue to rise further, supported by demand for Nvidia's Vera Rubin AI platform and TSMC's 2-nanometer process technology.

Investors are also expected to focus on TSMC's capital expenditure plans, progress in advanced process and packaging technologies, gross margin guidance, and updates on its global capacity expansion strategy.