Taiwan Semiconductor Manufacturing Company (TSM) (TSMC) is predicted to beat revenue expectations for the third quarter when it reports quarterly earnings Thursday.
The Taiwanese chipmaker is predicted to report September-quarter revenue of $23.3 billion, in accordance with analyst estimates compiled by FactSet (FDS). Earlier this month, Bloomberg reported that the corporate had sales of $23.6 billion for the quarter. The corporate set its third-quarter guidance between $22.4 billion and $23.2 billion. Meanwhile, TSMC is predicted to report $9.3 billion in net income for the third quarter, in accordance with FactSet.
The chipmaker’s shares were down 2.63% on the market close Tuesday. Nevertheless, its stock is up 84.3% to this point this 12 months.
TSMC announced net revenue of $7.82 billion for September — a rise of 0.4% from the previous month and an almost 40% increase 12 months over 12 months. Revenue for January through September grew 31.9% from the previous 12 months, TSMC said.
The chipmaker, which counts Nvidia (NVDA) and Apple (AAPL) as customers, has seen its sales climb amid the generative artificial intelligence boom. In July, TSMC beat analysts’ expectations for the second quarter, reporting revenue of $20.82 billion — up 40% from a 12 months ago.
Wendell Huang, the chief financial officer of TSMC, said in a press release that the corporate expects smartphone- and AI-related demand to drive business within the third quarter. C.C. Wei, TSMC’s CEO, said he expects chip production to catch as much as demand by 2025 or 2026.
In August, TSMC reported revenue of NT$250.87 billion ($7.8 billion) — a 33% increase from the previous 12 months. The corporate’s August sales were down 2.4% from July, which saw a 45% surge 12 months over 12 months.