TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Company (TSMC) announced Thursday (July 18) a Q2 revenue of $20.82 billion (US$637 million), a 32.8% increase year-over-year.

According to a TSMC press release, the company reported a consolidated revenue of NT$673.51 billion and a net income of NT$247.85 billion. Its diluted earnings per share were NT$9.56.

In Q2, the company’s high-performance computing (HPC) platform performance increased by 28%, smartphones decreased by 1%, and consumer electronics increased by 20%, per CNA. Its gross margin was 53.2% and its operating margin was 42.5%.

In terms of production processes, 3nm (nanometer) accounted for about 15%, 5nm for 35%, and 7nm for 17% of Q2 output. Advanced processes accounted for 67% of total wafer revenue.

TSMC Senior Vice President and CFO Wendell Huang (黃仁昭) said the company’s Q2 earnings were supported by 3 and 5nm technologies. 

“Moving into the third quarter of 2024, we expect our business to be supported by strong smartphone and AI-related demand for our leading-edge process technologies,” he said.