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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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Malayan Flour Mills Hits Five-Month Low After Announcing No Second Earnout from Stake Sale

Shares of Malayan Flour Mills Bhd (KL) dropped to their lowest level in more than five months on Wednesday after the company announced it would not receive a second earnout payment from a previously announced stake sale. The stock fell 7.7% or 5.5 sen to 65.5 sen, its lowest price since May 2024. As of 9:25 a.m., the stock had partially recovered to 67.5 sen, with a market capitalization of RM836 million. Trading volume reached 4.8 million shares at that time.

This decline reflects investor concerns over the impact of the missed earnout payment on the company's financial outlook.


Source: theedgemalaysia

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