TSMC Earnings: AI Drives Demand

Here's our initial take on Taiwan Semiconductor Manufacturing's (TSM 3.42%) fiscal 2025 second-quarter financial report.Key MetricsMetricQ2 2024Q2 2025Changevs. ExpectationsNet revenue$20.8 billion$30.1 billion+44%MissedEarnings per share$1.48$2.47+67%BeatGross margin53.2%58.6%+5.4 ppn/aWafer shipments (thousand 12-inch equiv)3,1253,718+19%n/aTSMC Noted Strong Demand for Leading NodesTSMC, as it is better known, missed analyst expectations for revenue in the second quarter, but currency exchange rate fluctu ...