By Sherry Qin


Taiwan Semiconductor Manufacturing Co.'s second-quarter net profit jumped on surging demand for advanced chips amid the global artificial-intelligence boom.

The world's largest contract chip maker said Thursday that net profit rose 36% from a year earlier to 247.85 billion New Taiwan dollars (US$7.61 billion) for the three months ended June. That exceeded the NT$235.12 billion consensus estimate from a FactSet poll of analysts.

Second-quarter revenue rose 40% to NT$673.51 billion after its June revenue climbed 33%.

TSMC's operating profit margin was 42.5% for the quarter, up 0.5 percentage point from a year earlier.

Investors have pushed shares of the Taiwanese chip maker to all-time highs, driven by bets the AI frenzy is poised to continue. Its Taiwan-listed shares have risen nearly 70% this year, outperforming the benchmark Taiex's 30% gain. Last week, its American depositary receipts that trade in New York rose to a record, briefly pushing the company's market value past US$1 trillion.


Write to Sherry Qin at sherry.qin@wsj.com


(END) Dow Jones Newswires

07-18-24 0156ET