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TSMC Beats Q3 Revenue Forecasts on AI Demand With September Sales Up 31%

AI-driven orders from major customers are propelling forecasts higher ahead of TSMC’s Oct. 16 outlook.

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The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is displayed at its fabrication plant in Kaohsiung, Taiwan, June 7, 2025. REUTERS/Ann Wang
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Overview

  • Third-quarter revenue reached T$989.92 billion (about $32.47 billion), up roughly 30% year over year and above the LSEG SmartEstimate of T$973.26 billion.
  • September consolidated revenue was NT$330.98 billion, a 31.4% increase from a year earlier and a 1.4% decline from August.
  • Management and market watchers attribute the surge to strong demand for chips used in artificial intelligence from clients such as Nvidia and Apple.
  • Growth reflects heavy AI compute orders alongside TSMC’s ramp of 3nm production with 2nm technology in preparation at fabs in Taiwan and Arizona.
  • Analysts have raised forecasts, with Bank of America lifting its price objective to NT$1,600 and increasing 2026 and 2027 EPS estimates, as TSMC prepares to deliver full Q3 results and updated guidance on October 16.