TSMC posts forecast-beating Q3 revenue surge on AI boom

Group 1: Company Performance - TSMC reported a 30% year-on-year increase in third-quarter revenue, reaching T$989.92 billion ($32.47 billion), surpassing market expectations due to heightened demand for AI applications [1][2] - The revenue exceeded the LSEG SmartEstimate of T$973.26 billion from 22 analysts and fell within TSMC's guidance range of $31.8 billion to $33 billion [2] - TSMC's shares have increased by 34% this year, outperforming the broader market's 18.5% rise [3] Group 2: Market Context - The company has benefited significantly from advancements in AI, which have compensated for the decline in demand for chips used in consumer electronics [3] - Foxconn, another major player in the industry, reported record revenue for the third quarter, indicating strong performance across the sector [4]