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TSMC Posts 54% Profit Surge in 3Q, Boosted by AI Chip Demand and Optimistic on Future Growth

Taiwan Semiconductor Manufacturing Co (TSMC) , the world’s largest contract chipmaker, reported a 54% jump in quarterly profit , surpassing forecasts, thanks to soaring demand for AI-related chips . This robust performance underscores TSMC’s dominance in producing advanced chips for AI applications, with key customers like Apple and Nvidia . TSMC's net profit for 3Q2024 reached T$325.3 billion (US$10.11 billion) , exceeding the T$300.2 billion forecasted by analysts. The company's revenue rose 36% year-on-year to US$23.5 billion , driven by strong demand for smartphone and AI chips utilizing its cutting-edge 3nm and 5nm technologies . The AI boom has been a major growth driver, with AI processors expected to account for a mid-teens percentage of TSMC's overall revenue for 2024. TSMC's capital spending for the current quarter is set to more than double to US$11.5 billion , and it expects capital expenditure to increase further in 2025 as demand remains robust. Chai
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HPP Holdings’ 1Q Profit Drops 54.5% Due to Lower Sales and Forex Loss

HPP Holdings Bhd reported a 54.5% decline in net profit for the first quarter ended Aug 31, 2024 (1QFY2025), with profit falling to RM1.04 million from RM2.29 million in the same period a year ago. The drop was attributed to lower sales and a foreign exchange loss driven by a strengthening ringgit.

Revenue for the quarter also fell by 12.4% to RM16.65 million, down from RM19.01 million, primarily due to weaker sales in the electronic and electrical (E&E) and sheath contraceptive sectors.

Moving forward, HPP Holdings plans to focus on enhancing its production capabilities, improving product quality, and pursuing cost optimisation. Additionally, the company is actively seeking new business opportunities to expand its client base both domestically and internationally. With the rising global demand for sustainable packaging, HPP sees potential growth in its paper pulp moulded packaging products.

HPP Holdings’ shares closed 1.1% lower at 43 sen, with a market capitalization of RM167.05 million.

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