Odaily Planet Daily report: TSMC announced its third-quarter financial results, with net profit rising 69% year-over-year to NT$763.1 billion, approximately $23.6 billion, surpassing market expectations; revenue increased 51% year-over-year to $47 billion, also exceeding market expectations.
Driven by sustained growth in demand for artificial intelligence, TSMC has raised its 2026 revenue growth forecast in U.S. dollars from slightly above 40% to approximately 44%, with full-year capital expenditures expected to range between $60 billion and $64 billion. The company anticipates fourth-quarter revenue of $52.3 billion to $54.3 billion, a gross margin of 65% to 67%, and an operating profit margin of 56.5% to 58.8%.
TSMC stated that demand for advanced processes remains strong, with revenue growth accelerating over the past two quarters. The company is currently advancing the construction and setup of approximately 20 factories, significantly exceeding the previous scale of building 4 to 5 new facilities simultaneously. TSMC will also send teams to assess the progress of power supply and data center construction in the United States, but will maintain caution in formulating its 2027 business plan.
Despite growing market concerns over the scale of AI infrastructure investments, institutions continue to raise their capital expenditure forecasts for TSMC in 2027. Goldman Sachs forecasts $85 billion, while UBS forecasts $90 billion—both exceeding the institutional survey average of $75 billion. (Jinshi)