TSMC Q2 profit surges 60%, reaches historic high
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FILE PHOTO: A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
TAIPEI (Reuters) -TSMC, the world's largest contract chipmaker, posted a 60.7% jump in second-quarter net profit on Thursday, beating market forecasts and hitting a historic high as it benefited from surging demand for semiconductors used in artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, saw April-June net profit rise to T$398.3 billion ($13.53 billion).
The profit handily beat a T$377.9 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.
($1 = 29.4440 Taiwan dollars)
(Reporting by Wen-Yee Lee, Faith Hung and Yimou Lee; Writing by Ben Blanchard; Editing by Edwina Gibbs)
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