Taiwan Semiconductor Manufacturing Company (TSM) (TSMC) is expected to beat third-quarter revenue expectations when it reports quarterly results on Thursday.
The Taiwanese chipmaker is expected to report revenue of $23.3 billion for the September quarter, according to analyst estimates compiled by FactSet (FDS). Earlier this month, Bloomberg reported that the company had revenue of $23.6 billion for the quarter. The company set its guidance for the third quarter at between $22.4 billion and $23.2 billion. Meanwhile, TSMC is expected to report third-quarter net income of $9.3 billion, according to FactSet.
The chipmaker’s shares fell 2.63% on Tuesday. However, the stock is up 84.3% this year.
TSMC reported September net sales of $7.82 billion – up 0.4% from the previous month and up nearly 40% year over year. Sales for the period January to September grew by 31.9% compared to the previous year, TSMC said.
The chipmaker, which counts Nvidia (NVDA) and Apple (AAPL) as customers, has seen its revenue soar amid the generative artificial intelligence boom. In July, TSMC exceeded analyst expectations for the second quarter, reporting revenue of $20.82 billion – a 40% increase from a year ago.
Wendell Huang, TSMC’s chief financial officer, said in a statement that the company expects demand for smartphones and AI to drive revenue in the third quarter. CC Wei, CEO of TSMC, said he expects chip production to catch up with demand in 2025 or 2026.
In August, TSMC reported revenue of NT$250.87 billion ($7.8 billion) – a 33% increase from the previous year. The company’s August sales fell 2.4% from July, which saw a 45% increase year over year.
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