Growth in USD increased from 31,8% in July to 44,4% in August, on track to deliver +40% in 2026
TSMC reported August revenue today in another blowout month, with accelerating growth from +31,8% to +44,4% YoY % in USD, reaching $16,1 billion! That represented +10,7% growth MoM %!
In TWD, revenues reached NT$ 514,8 bi, a +53,3% YoY % growth in August accelerating from +44,7% last month! This also represented a +10,1% growth MoM %.
The USD is +6,2% stronger YoY, but monthly it depreciated -0,6% MoM %.
In our previous note, we mentioned TSMC should deliver NT$480–499bn in Aug-Sep to reach guidance, the August revenue came 3,2% above the high end of expectation! So anything above NT$460bi in September would come above guidance in 3Q26 Earnings!
Given TSMC year guidance, we would expect 4Q26 to come in the mid-to-high 40s as well!
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Thank you,
CoreValue Research Team
