TSMC Jumps on 40% Year-Over-Year Q2 Revenue Increase

Group 1 - Taiwan Semiconductor Manufacturing Company (TSMC) reported a 33% increase in June revenue year-over-year, totaling NT$207.87 billion ($6.38 billion) [1] - TSMC's second-quarter revenue reached NT$673.51 billion ($20.67 billion), exceeding analyst expectations by approximately NT$20 billion and marking a 40% increase from last year's NT$480.84 billion [1] - The company's American depositary receipts (ADRs) rose 2.5% to $189.17, reflecting an over 80% increase year-to-date [3] Group 2 - TSMC has benefited from the AI boom, which has driven demand for chips, compensating for decreased demand in other sectors such as automotive semiconductors [2] - The company surpassed its own revenue projections for the quarter, which were estimated between $19.6 billion to $20.4 billion [2] - TSMC is set to receive up to $6.6 billion in grants from the CHIPS and Science Act to enhance its production capacity in the U.S., with plans for three factories in Arizona operational by 2025, 2028, and 2030 [3]