TSMC posts 77% profit jump for Q2, surging past market expectations

TSMC reported Q2 net profit of T$706.6 billion (around $21.99 billion), up 77% year-on-year and ahead of analyst estimates of T$632.6 billion, marking its ninth straight quarter of double-digit growth. Revenue rose 36% to a record high, supported by strong demand for 3nm and 2nm process technologies and advanced chip packaging for AI applications. The company is investing $165 billion to build fabs in Arizona and analysts expect it to raise full-year revenue growth and capex guidance on the upcoming earnings call.